VisaNet Files Anticipated IPO

Brazilian credit card company VisaNet has filed a long-awaited initial prospectus for its IPO. The deal could be one of the biggest Brazil equity offerings ever, according to bankers working on it. They say the offering could weigh in at $2.4bn-$4.5bn. Bradesco BBI is the lead bookrunner, joined by BB Investimentos, Santander and JPMorgan on the top tier. Goldman Sachs and UBS Pactual are also joint bookrunners, according to the prospectus, which does not include share price or total amount to be raised. VisaNet posted gross revenues of BRL882m in Q1, compared to BRL740m in the same period in 2008. A deal is expected next month.