Corporate Finance

Alupar Raises R$833 Million in Public Offering

Another IPO in Brazilian soil keeps the streak of IPOs in the largest country of South America.

Another IPO in Brazilian soil keeps the streak of IPOs in the largest country of South America.


On April 10th, Alupar SA, a Brazilian company involved in power generation, conducted a primary public offering of 45,520,639 common shares and 82,704,360 preferred shares, at a price of R$19.50 per share, which represents a discount of 5% from the original price announced, R$20.45. The total amount raised reached R$833,462,493.50.

 

Upon the end of the offering, the administration counsel of the company approved the increase of its social capital in R$833,462,493.50, thus becoming R$2.15 billion.

 

The Brazilian law firm Lefosse Advogados worked as a special counsel to assist Alupar in the issuance of the shares and in the monetary transactions. The banks Santander, Itau, BTG Pactual and Bradesco were the underwriters of the deal, with the law firm Machado, Meyer, Sendacz e Opice Advogados working as their counsel.

 

The amount of resources raises by Brazilian companies through shares has reached the sum of R$52.2 billion in the first quarter of 2017, representing an increase of 139% from last year. This is the highest demand since 2014.

 

C.S.

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