BHG Plans FO

Brazil Hospitality Group (BHG) is planning to raise about BRL500m ($255m) through an equity follow-on, the tourism-related developer says. The timing has not been determined, though an initiation of the process in early March lines the issuer up for pricing in April. BTG Pactual, Bradesco, Espirito Santo, Goldman Sachs and Itau have been hired to manage the sale. BHG joins a growing Brazil ECM pipeline, beginning with mall operator Multiplan’s follow-on scheduled for March 27. It should be followed by IPOs from BB Seguridade, Alupar, Biosev and Smiles, as well as a follow-on from Tupy – all expected to launch within the next 2-3 weeks.