Autometal Reveals IPO Leads

Brazil’s Autometal has named Santander as lead bookrunner for its IPO, along with Credit Suisse and JPMorgan as bookrunners. The Brazilian unit of Spanish auto parts manufacturer CIE Automotive announced plans to IPO earlier this week, to raise funds to continue growing in Brazil and the NAFTA markets. Autometal claims to have doubled in size during 2005-2009, and posted Ebidta of BRL215.3m in 2009. The issuer has yet to indicate a specific fundraising target, or timeline for the offer.