Desktop IPO to commence on 21 July

7 Jul 2021

Brazilian ISP Desktop Sigmanet will launch its initial public offering (IPO) on 21 July, Valor Investe reports. The company has set an indicative share price of between BRL23 (USD4.48) and BRL28, and the IPO is projected to generate BRL776.1 million, when considering the base offering of 30.4 million shares and the middle of the price range. An additional lot of 6.1 million shares and a supplementary lot of 4.6 million shares can still be sold, if there is sufficient demand. Would-be shareholders must be willing to invest a minimum of BRL3,000 and a maximum of BRL1 million. The IPO is being coordinated by Itau BBA, UBS BB, BTG Pactual and Bradesco BBI.

As previously reported by TeleGeography’s CommsUpdate, in November 2020 HIG Latin America, the regional offshoot of Miami-based HIG Capital, completed the majority takeover of DSN Participacoes (Desktop Sigmanet) via its Makalu unit. The company was previously controlled by its founder and CEO Denio Alves Lindo and his partners; Lindo is understood to retain a 29.3% stake.

According to the National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel), Desktop accounted for a total of 255,076 broadband subscribers as of 31 March 2021, up from 142,724 one year earlier.

Brazil, Desktop