Lupatech To Float On Bovespa

Brazilian manufacturer Lupatech is to float its stock on the Novo Mercado segment of the São Paulo Stock Exchange on May 15. The IPO will comprise 16,263 million common shares, 5,421 million of which will be sold via a primary offering and 10,842 million via a secondary offering. The shares will be sold in Brazil and also in the US under rule 144A. The sale is being arranged by Merrill Lynch and Banco Pactual.