Infrastructure Issuers Flock to Float in Brazil

Julio Simoes, a logistics operator, has filed for an IPO on the Bovespa to become the fourth infrastructure-related company to seek to raise shares in the past month. There are currently 6 initial offerings on file. Julio Simoes, a little known provider of services ranging from supply chain management, fleet outsourcing, public and private passenger transportation and cargo services, had Ebitda in 2009 of BRL240m, up from BRL200m in 2008. The company does not specify a target amount for the issue. Bradesco and Credit Suisse are leading. Julio Simoes joins a pipeline that includes OSX, the Eike Batista shipping company, Ecorodovias, the tollroad operator, and Mills, a heavy construction material provider in the general infrastructure space.