BR Properties to Bring IPO Today

The year’s third Brazil IPO is expected to price today and bankers leading say it is going well. Several investors are heard examining the deal, which could raise up to BRL1.5bn if a greenshoe and hot issue are sold. The Ibovespa has cooperated by trading relatively flat so far this week. BR Properties, whose lead shareholder is GP Investments, is targeting a price between BRL14.00-BRL18.00 for 57.5m primary shares and 14.4m secondary shares plus 23m optional greenshoe and hot issue units. Itau BBA, Bradesco BBI, Goldman Sachs, Safra and Santander are leading.