Azul Taxis Out IPO

Brazil’s Azul is preparing to raise funds through an IPO, according to regulatory documents. The airline does not indicate size or timing, though a filing this week sets it up for a July pricing. The sale is to include primary shares, with a 15% greenshoe composed of secondary shares sold by existing holders. Shares may be sold internationally in the form of ADR. Azul is raising funds for expansion and to repay debt. Banco do Brasil, Goldman Sachs, Itau, Morgan Stanley and Santander have been hired to manage the sale.