Brazilian Developer to IPO

Brazilian real-estate company Global 4 Empreendimentos Turisticos has registered to IPO on the Bovespa’s Novo Mercado. Global specializes in the development of tourism-related real estate projects, including hotels and vacation home communities, in Brazil’s North East. The Bahia-based company did not disclose a timetable or any details of the operation. Proceeds will be used for construction, land acquisition and working capital. UBS is managing the sale.