Agricola and Paraná IPO

Shares in Paraná Banco, a mid-sized bank from Curitiba, which issued a $272m IPO Tuesday, fell on their first day of trading yesterday. The offering, which priced at BRL14 per share, the bottom end of the BRL14-18 range, dropped 3.57% according to the Bovespa. UBS Pactual and Credit Suisse led. Brazilian agricultural company SLC Agricola listed on the Novo Mercado Wednesday and raised $219.2m via its Bovespa listing and in a private placement in the US. The offering priced at BRL14, the midpoint of a BRL12-16 range. Credit Suisse and JPMorgan had books.