Satipel Industrial Breaks IPO Silence

Brazilian lumber provider Satipel Industrial has priced a BRL398m IPO, the country’s first since July, at BRL13.00, the low end of a BRL13-17 range given in the initial filing. Leads Credit Suisse, UBS Pactual, and Unibanco earned fees of 3%, totaling BRL12m. Co-manager was Banco Safra.