GVT to raise USD311 million via IPO

23 Jan 2007

Brazilian telecoms operator Globel Village Telecom (GVT) is looking to raise BRL664 million (USD311 million) through its forthcoming initial public offering (IPO), writes BNamericas citing a company statement. The telco’s board approved the preliminary prospectus for the IPO last month and shares are expected to be priced from BRL11-BRL16 each. GVT will use some of the proceeds (BRL233 million) to pay off long-term debt, including loans.

Brazil, Global Village Telecom (GVT)