Trisul Misses IPO Price Target

Brazilian real estate company Trisul raised BRL318.8m from an IPO, the company said in a filing. The 29m shares priced at BRL11 per unit, well below the company’s initial estimate of BRL13-BRL17, a further sign of investor pushback to less known, less liquid names. Shares were due to begin trading late Monday. Morgan Stanley led the offering, with JPMorgan, Banco Real and ABC Brasil also on the deal.