Brazil Real Estate IPOs Still Flowing

There are just two equity deals on the block for this week, according to Dealogic, and April overall shows a Brazil real estate bias. A BRL346m ($170m) IPO for Brazil’s CR2 Empreendimentos Imobilarios should price Wednesday through Unibanco and the initial range is BRL20-25. The primary issue from the busy real estate sector pays 4.5% gross spread, according to Dealogic. Ultrapetrol of the Bahamas is scheduled Thursday to price a follow-on for up to $199m via UBS and Bear Stearns. The $173m issue has a greenshoe option. The tanker fleet owner was trading at $17.69 before the announcement. Jeffries, Raymond James and DVB are co-managers. On the docket for next week are AGRA Empreendimentos Imobilarios’ BRL582m IPO through Credit Suisse, marketed at BRL7-10, Cremer’s BRL508m IPO at BRL15.50-19.50 through Merrill and Credit Suisse and Wilson Sons’ $259m IPO at $10.00-13.50 via CS and UBS Pactual, according to Dealogic. All have a 15% greenshoe.