Brisanet Telecomunicacoes – Brazil’s sixth largest fixed line broadband provider in terms of subscribers – is planning an initial public offering (IPO), Globo reports, and expects to achieve a market value in the region of BRL5 billion (USD901.25 million). A source familiar with the matter noted that the ISP is analysing market conditions and assembling an advisory team. If the listing proves to be successful, a whole host of mid-sized regional players are expected to follow in Brisanet’s footsteps.
According to TeleGeography’s GlobalComms Database, Brisanet was founded in 1997 by local businessman Roberto Nogueira and launched its first fibre-to-the-home (FTTH) networks in 2011 and now offers services in more than 150 towns and cities across the north-east. As of 31 December 2020, Brisanet claimed a broadband user base of 624,313, up from 351,405 one year earlier.