Brazilian ISP Brisanet – the country’s fifth-largest broadband provider by subscribers – will launch its initial public offering (IPO) on 29 July. According to TeleTime, shares will be sold via the B3 stock exchange in Sao Paulo, under the ‘BRIT3’ ticker symbol. A share reserve for non-institutional investors is expected to start on 16 July and end on 26 July. The indicative share price range submitted to the Securities and Exchange Commission of Brazil (Comissao de Valores Mobiliarios, CVM) by Brisanet was BRL13.92 (USD2.67) to BRL17.26 and the telco hopes to generate proceeds or around BRL1.5 billion.
In other news, Unifique – the country’s seventh-largest ISP – will launch its own IPO on 27 July. Shares in the Santa Catarina-based operator will also trade on the B3, under the ‘FIQE3’ ticker symbol. The reserve interval for non-institutional investors started on 12 July and will run until 22 July. The indicative price range for Unifique shares is BRL8.41 to BRL10.49.