T4F Sets IPO Date

T4F Entretenimento plans to sell 11.7m primary shares and 17.6m secondary shares at BRL14.50-BRL18.50 each in an IPO scheduled for April 7. Such a deal would bring BRL483m at the BRL16.50 midpoint. A 15% greenshoe is also possible, which would bring the total to BRL623m if priced at the top of the range. The event promoter and ticket broker has operations in Brazil, Chile and Argentina. Controlling shareholder and CEO Fernando Luiz Alterio, Mexican entertainment operator CIE Internacional, and Gavea Investimentos’ GIF II fund are selling shares in the secondary portion. The issuer began investor meetings Thursday. T4F, which stands for “Time for Fun,” booked BRL95.1m in Ebitda in 2010, up from BRL46.1m in 2009. BTG, Bradesco and Credit Suisse are managing the sale. Despite a large pipeline, Brazilian IPO launches after the carnival break have been slow in coming. Cimentos Liz is now marketing and scheduled to test the waters March 31, for perhaps BRL500m.