Busy July For Brazilian IPOs

While the US markets took most of this week off, Brazilian IPO hopefuls were busy updating their filings to go public. On July 18, beef producer Minerva hopes to price 27.6m shares at BRL15.50-BRL21.50 to raise $264m, according to Dealogic. Kroton Educacional, a privately held school operator, unveiled Monday plans to issue 12.3m shares at BRL31.00-BRL39.00 via Morgan Stanley and Merrill Lynch on July 20, to raise $222m. And Banrisul, a state-owned mid-market focused bank, updated Tuesday its filing to go public by establishing a price range of BRL10.50-BRL13.50, bringing the expected value of the deal to $1.245bn. The offering is slated to price July 25, and is being brought by Credit Suisse and UBS Pactual.