Category: Equity

The owners of Brazil’s Ponto Frio electronics retailer plan to sell their majority stake on the Bovespa, according to Brazil’s Estado de Sao Paulo, which cites board member Francisco Gros. Lily Safra and her son Carlos Monteverde will look to sell Globex Utilidades, which controls Ponto Frio, near the end of the first quarter. Credit Suisse is advising the controlling shareholders.

Hypermarcas, a Brazilian maker of food, cleaning, hygiene and medication products, has filed for an IPO on the Bovespa. The company had filed for an IPO last year, but pulled the plug when it opted to sell a 25% stake to a group of Mexican investors for $250m. Proceeds will fund new acquisitions, new product development, and working capital. The timing of the sale and expected price range were not communicated. Citi and Merrill Lynch are coordinating.

Le Lis Blanc Deux Com e Confeccoes de Roupas, a maker of women’s clothing and related products, has filed to sell shares on the Bovespa. The company, 85% controlled by the Artesia fund, did not indicate the timing of the offer, of both primary and secondary shares. Merrill Lynch will coordinate the transaction.

Cyrela Brazil Realty has cancelled plans to do an IPO on the Bovespa. The sale, for which an amount had not yet been specified, was cancelled due to volatility in the capital markets. The real estate developer said it did not rule out filing for another offer in the future. Technology group IdeiasNet pulled the plug on an offer last week, while Norse Energy, Nutriplant and Copasa have each postponed offerings recently citing market turbulence.

America Movil has obtained shareholder approval to boost its share buyback fund by MXP15bn to MXP65bn, the company said Friday in a filing with the Mexican Stock Exchange.

Brazilian fertilizer company Nutriplant Industria e Comercio says it has postponed its IPO on the Bovespa Mais until February 13. It had planned to raise BRL28.9m-BRL37m through the sale of 2.07m shares plus an overallotment on January 30. The road show and bookbuilding processes are now underway. Nutriplant would be the first company to list on the Bovespa Mais, where small and mid-cap issuers can take up to seven years to reach the minimum 25% float. HSBC is coordinating the operation. Separately, Brazilian technology group IdeiasNet says it has canceled definitively its plans to hold a primary sale on the Bovespa, citing poor market conditions. Earlier this month, it announced the suspension of the 40m share offer for up to 60 days.

Developer Summer Brasil Turismo has filed for an IPO in Sao Paulo. The dates of the process and amount of shares to be sold on the Bovespa’s Novo Mercado have not yet been set. Summer plans to use proceeds to purchase land and develop real estate projects, mostly in Brazil’s northeast. Founded last year, the Sao Paulo-based company specializes in tourism-oriented real estate projects, including vacation homes and hotels. UBS Pactual will manage the sale.