Cautious Optimism in Brazil as Appetite Returns for I.P.O.s

Cautious Optimism in Brazil as Appetite Returns for I.P.O.s

Chamber Articles Category: Economic News Post Date: 03/17/17 Source: The New York Times By: VINOD SREEHARSHA
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The three-year drought of initial public offerings in Brazil is finally starting to dissipate, giving hope to investors from São Paulo to New York and Boston. Some expect that more than a dozen deals will be filed by the end of the year.

Among them is the trading debut of XP Investimentos, a 15-year-old financial services firm, backed by the American private equity firm General Atlantic. XP Investimentos hired JPMorgan Chase in the past few weeks and is looking to go public by the end of July. In addition, the dental and health care insurer Grupo NotreDame Intermédica, owned by Bain Capital, recently picked Morgan Stanley to work on a possible I.P.O. this year.

Companies that had to cancel or postpone past attempts are giving it another go as well.

On Thursday the Brazilian e-commerce company Netshoes, which is 37.8 percent owned by Tiger Global Management and first considered an I.P.O. over four years ago, filed with the Securities and Exchange Commission to be listed on the New York Stock Exchange. Goldman Sachs, JPMorgan, Bradesco BBI, Allen & Company and Jefferies are the underwriters. Read Full Article