Logistics Operator Preps IPO

Brazil’s Vix Logistica has filed for an IPO, according to regulatory documents. The transportation and fleet rental specialist plans to sell primary shares, as well as secondary shares owned by the controlling Aguia Branca group. It does not indicate size or timing, though a filing this week implies a mid-June launch, and ECM bankers familiar with the issuer expect a deal of less than BRL500m ($263m). It is raising funds mostly for organic growth, and also to acquire real estate and for working capital. Vix booked BRL152m in Ebitda in 2011, and BRL154m in 2010. Banco do Brasil, Bradesco, BTG Pactual, Credit Suisse and Itau are managing the sale.