Norse to Raise up to BRL460m in Brazil IPO

Norse Energy do Brasil plans to raise between BRL368m-BRL460m with its initial public offering on the Brazilian Stock Exchange. The oil and gas exploration and production company, an arm of Norway’s Norse Energy, plans to sell 23m common shares at a range of BRL16- BRL20 per share. Trading is expected to begin February 1, after the pricing and allocation period January 24-29. Norse said it would increase the offer up to 15% if there is sufficient demand. UBS Pactual is bookrunner and Tristone Capital, Unibanco and Bulltick are co-managers.