Bovespa IPO Could Top BRL5bn

Bovespa Holding plans to raise up to BRL5.3bn in a stock offering October 26. The company that owns the São Paulo stock exchange expects the 250.5m shares to be priced BRL15.5-BRL18.5, and may offer an additional 37.6m shares depending on demand. The expected proceeds would place it among the biggest share sales in the country’s history. Goldman Sachs and Credit Suisse are leads and joint bookrunners, with UBS Pactual as international manager. Itau, Bradesco, Banco do Brasil, Deutsche Bank, HSBC and Santander are also in the underwriting group.