Category: Equity

Wilson Sons shipping agency, headquartered in Bermuda, is to issue Brazilian depositary receipts (BDRs) via an IPO on the local Bovespa exchange. The company will issue 11 million shares via a primary offering and 11 million BDRs through a secondary offering. The shares will be sold in Brazil and also to qualified foreign investors under rule 144A. The company will be only the fourth company to issue BDRs and joins Spain’s Telefónica, investment fund GP Investments and Swiss retailer Dufry. Credit Suisse is coordinating.

Brazilian cleaning company Atmosfera Gestão e Higienização de Texteis has pulled its IPO and will wait until conditions improved, reported local media. The company had hoped to raise around $150 million (300 million reais) from the sale.

Credit Suisse has bolstered its position as the leading Latin equity house by poaching Sebastian Chatel from arch rival UBS, where he led ECM. Credit Suisse and UBS are slugging it out for supremacy in LatAm equities, especially Brazil, whose red hot equity market is expected to yield a significant amount of volume over the next few years, particularly in IPOs from new sectors. UBS was commended for ECM deals in 2006 including the groundbreaking Banco Macro IPO in Argentina and the CESP follow-on. It is understood to have accumulated in excess of 20 mandates to execute this year. Chatel is expected to take on his new role in June.

Alvaro Rodríguez, the finance director of Mexican glassmaker Vitro has resigned, the company said in a filing with the Mexican Stock Exchange. Enrique Osorio, formerly finance director of troubled biotechnology firm Savia, will replace Rodríguez and will work together with the latter until the middle of April to ensure a smooth transition, said Vitro’s chief executive, Federico Sada. Investors will watch with interest to see what direction the company takes following Rodriguez’s departure. He was responsible for the much-praised recent debt restructuring of the company.

Chilean retailer Falabella is to increase its capital by around $1 billion via an offering of 270 million new shares. In a filing with the Santiago Stock Exchange, the company said it will put forward the proposed capital increase to shareholders at an extraordinary meeting called for April 24.

Darys Estrella will become the new chief executive of the Dominican Republic Stock Exchange, the first woman to hold the post. She takes over from Marino Ginebra who held the position for the past 15 years since the exchange was inaugurated. Estrella moves from Goldman Sachs where she was a vice-president in the human capital management division. She holds a degree from Vassar and an MBA from the University of Michigan.

Metalfrío Solutions, a Brazilian fridge-freezer manufacturer, is to launch an IPO via Bovespa, the company said in a filing with the Stock Exchange. The company hopes to raise $281 million (580 million reais) from the sale of 20.7 million common shares at a price of between 24 reais and 28 reais per shares. Metalfrío will also offer shares to foreign investors under 144a rules. UBS is the lead.

Mexican conglomerate Desc has concluded the acquisition of autoparts manufacturer Nugar, the company informed the Mexican Stock Exchange on Tuesday. Desc, in partnership with Spain’s CIE Automotive, paid $75 million for 100% of the capital of the company. Nugar supplies part to Volkswagen, Ford, DaimlerChrysler and General Motors.

Transelec, the Chilean power distributor, plans to sell $210 million-worth (UF6 million) of local inflation-adjusted bonds today, Wednesday, the company informed the Santiago Stock Exchange. The 9.5-year bullet bonds will be sold through Scotiabank and Citi.

Argentina’s Banco Hipotecario has entered into talks with HSBC in Argentina to buy local broker Hexagon Argentina, the bank said in a filing to the Buenos Aires Stock Exchange. HSBC acquired Hexagon when it bought the Argentine business of Italian Banca Nazionale del Lavoro early last year.