Tag Archives: Initial public offering

UPDATE 1-Cemig Brasil plans IPO of gas distribution, sale of Alianca shares | Instant News

(New throughout, adding information across company divestment plans, stock reactions)

SAO PAULO, April 28 (Reuters) – Brazilian power company Cemig is planning an initial public offering of a gas distribution unit and a wave of divestments, executives said on Wednesday, and the company’s shares rose more than 4% after the news.

During an online investor event, executives said they planned to sell about 9 billion reais ($ 1.66 billion) in assets by 2025, including company stakes in the large hydroelectric dams of Belo Monte and Santo Antonio.

As part of the divestment, the company, officially Cia Energetica de Minas Gerais SA, also plans to sell its stake in Alianca Energia, a joint power plant venture with Brazilian mining company Vale SA, executives said.

Cemig is the public electricity company of Minas Gerais, Brazil’s second most populous state.

The shares of the Sao Paulo-listed company rose 4.4% in midday trade, the second-biggest winner on Brazil’s benchmark Bovespa equity index.

Earlier in the event, Minas Gerais Governor Romeu Zema reiterated his intention to privatize the company, saying he wanted it finished by the end of his term in 2022.

“I want the company to be privatized during my tenure,” said Zema. “Maybe not to sell it outright, but to receive an injection of (private) capital and thereby weaken the state, which always intervenes inappropriately, thus losing controlling stake and stopping hurting Cemig.” (Reporting by Luciano Costa; Written by Gram Slattery; Editing by Louise Heavens and David Gregorio)


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UPDATE 2-The Australian Links Administration said Carlyle, Pacific Equity Group lowered its $ 2.2 billion bid | Instant News

* Consortium withdraws A $ 2.87 billion ($ 2.23 billion) bid – Link

* 44% stake in online real estate firm PEXA has sparked interest in bidding

* Australian house prices are booming; Link shares are down by nearly 5%

* Another higher value statement of interest received for PEXA -Link shares (Adding consortium declined to comment, background, share drop)

April 28 (Reuters) – Australian shareholder registrar Link Administration said it would continue exploring options for a sought-after stake in the online real estate business PEXA after a private equity group dropped a $ 2.2 billion bid for Link.

Link’s shares slumped nearly 5% after saying Wednesday that the consortium, including Carlyle Group and Pacific Equity Partners, had withdrawn its A $ 2.87 billion ($ 2.23 billion) bid.

Link said last year it did not see “attractive value” in the offer, and an external spokesman for the consortium declined to comment on Wednesday.

But Link said on Wednesday that it had received an indication of non-binding interest that reflected a better value for its 44% stake in online carrier PEXA than implied by the consortium’s offer. The strengthening Australian property market has been at the center of several bids for Link in pursuit of PEXA since the last year, and the company has been looking to profit from its stake.

A binding offer for the sale of PEXA shares is expected in June, said Link. Morgan Stanley Infrastructure Partners and Commonwealth Bank of Australia own the remaining PEXA.

Earlier this week, local media reported here KKR & Co and classified property firm Domain Holdings Australia will bid for Link’s stake in PEXA, while investment banks Macquarie and UBS are also said to be in the works.

In February, Link said PEXA shareholders were also exploring the possibility of taking the company public.

Data earlier this month showed Australian house prices rose at the fastest pace in three decades in March as record lows boosted demand. For the half year ended December 31, PEXA reported a 28% jump in transaction volume and a 27% increase in revenue.

Shares in Link fell as much as 4.9% to A $ 5.02 against a largely flatter market at 0015 GMT – on course for the biggest intraday decline since January 4 ($ 1 = Australian $ 1.2877) (Reported by Shashwat Awasthi in Bengaluru; Editing by Arun Koyyur, Devika Syamnath and Kenneth Maxwell)


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EXCLUSIVE-Nubank Brasil prepares a list of US-source stock markets | Instant News

NEW YORK / SAO PAULO, April 23 (Reuters) – Brazilian digital bank Nubank has begun preparations for its earliest possible listing of the US stock market this year, according to people with knowledge of the matter.

This will be one of the biggest stock market debuts of a South American company in recent years. Nubank was valued at about $ 25 billion in a private fundraising round in January, more than double its valuation.

Nubank, whose official name is Nu Pagamentos SA, is working with advisers on an initial public offering in New York, the sources said, requesting anonymity because the plans are confidential.

“We will probably do an IPO at some point in time, but that is not one of our priorities at the moment. We have the support of an extraordinary group of investors who have a long-term vision for our business, ”said Nubank in an emailed statement. They declined to comment specifically on the timeline or preparations for its IPO.

Sao Paulo-based Nubank was founded in 2013 by David Velez, a Colombian Stanford graduate, as a purple credit card issuer with no annual fees.

Since then, it has acquired more than 35 million clients, launched new financial products such as current accounts and loans, and expanded throughout Latin America. Over the past seven years, it has raised $ 1.2 billion in multiple funding rounds.

Nubank ended 2020 with a net loss of 230.2 million reais ($ 41.9 million), down from 312.7 million reais from the previous year.

Nubank’s investors include venture capital firm Dragoneer Investment Group, Ribbit Capital, Tencent Holdings Ltd and Tiger Global Management, as well as the Founders Fund, which is backed by billionaire Peter Thiel.

$ 1 = 5.4945 reais Reporting by Joshua Franklin in New York and Carolina Mandl in Sao Paulo; Edited by David Gregorio


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Brazilian GPS facility company, shareholders raised $ 422 million in IPO – sources | Instant News

SAO PAULO (Reuters) – Brazilian facility company GPS and its shareholders raised at least 2.3 billion reais ($ 422.46 million) in an initial public offering on Thursday, two sources with knowledge of the matter said.

The company priced its shares at 12 reais, sources added.

GPS, which owns private equity firms Warburg Pincus and Gavea Investimentos as investors, was forced to lower its price range earlier this week due to low demand from investors to between 11.25 reais and 13 reais from between 13 reais and 15.5 reais.

The company plans to use the proceeds for acquisitions, dividend payments and to raise cash.

GPS will be the first facility company to be listed on the Brazilian stock exchange, B3 SA, when the stock debuts on April 26.

Founded in 1962, GPS provides facility services to more than 2,700 companies and has 100,000 employees.

Itau BBA, Goldman Sachs, Bank of America, BTG Pactual, Citi and Morgan Stanley managed the offering.

($ 1 = 5,4443 reais)

Reporting by Tatiana Bautzer and Carolina Mandl; Edited by Chris Reese


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Caledonia Nursing Hospital Brazil rescheduled its IPO prices for April 28th | Instant News

SAO PAULO, April 22 (Reuters) – Brazilian healthcare company Hospital Care Caledonia SA has rescheduled its initial public offering price, which was originally expected for Thursday, for April 28, according to documents posted on the securities industry watchdog CVM’s website.

The company, backed by billionaire Elie Horn, founders of homebuilders Cyrela Brazil Realty and Julio Bozano, will sell up to 41 million shares. (Reporting by Tatiana Bautzer Editing by Chris Reese)


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