Foreign accounts subscribed half of CVC sales

Some 44 international investors subscribed to CVC Brasil Operadora e Agencia de Viagens December IPO, taking slightly less than half the deal, the firm said on Friday. International accounts took 18.8m shares, some 48% of the total sold. The travel agency IPO brought in BRL621m ($236m) for the sellers, mainly comprising US private equity firm Carlyle and co-founder Guilherme Paulus. Bank of America Merrill Lynch, BTG Pactual, Itau, JPMorgan and Morgan Stanley priced the shares at BRL16.00 each, below the BRL18 to BRL22 range.