Brazil’s Tarpon IPOs with 401.5m reais Issue

Brazil’s investment funds administrator, Tarpon Investment Group, raised 401.5m Brazilian reais ($206.3m) from its initial public offering of shares on the Bovespa, according to Dealogic. Tarpon sold 18.25m shares at 22 reais each, the low end of 22-30 reais guidance. The shares are trading today in Brazil and with qualified foreign investors under 144a SEC rules. Credit Suisse led the deal. Tarpon is the second investment fund administrator to list its shares in Brazil. GP Investments raised 758.4m reais ($329.7m) in its June 2006 IPO, also through Credit Suisse.