Brazilian ISP Brisanet – the country’s fifth-largest broadband provider by subscribers – has registered for an initial public offering (IPO), Reuters reports, citing documents published by the Securities and Exchange Commission of Brazil (Comissao de Valores Mobiliarios, CVM). According to the news agency, the offering will be coordinated by Banco Santander, XP, BTG Pactual and UBS BB, a partnership between UBS and Banco do Brasil. In April this year it was suggested that Brisanet expected to achieve a market value in the region of BRL5 billion (USD901.25 million).
TeleGeography notes that Brisanet is the third Brazilian ISP in quick succession to register for an IPO. Last month Santa Catarina-based Unifique – the country’s seventh-largest ISP – filed its own IPO request with the CVM. A matter of weeks later Sao Paulo-based Desktop Sigmanet followed suit.