Compass Gas e Energia raises $650 million in Brazil's first IPO in five years
Updated
Updated · Bloomberg · May 7
Compass Gas e Energia raises $650 million in Brazil's first IPO in five years
2 articles · Updated · Bloomberg · May 7
Shareholders sold 89.3 million shares at 28 reais each on Thursday, the bottom of the indicative range, raising 3.2 billion reais including over-allotments.
The deal ends a nearly five-year drought in Brazil's IPO market and marks a notable reopening for equity issuance in Latin America's largest economy.
The sale was completed by Compass shareholders rather than the company itself, according to people familiar with the matter, with final pricing at the low end of expectations.
Brazil's IPO market has reopened, but can it survive the country's soaring public debt?
Is Brazil's economic revival a sustainable recovery or just another commodity-fueled boom?