Brazilian ISP Desktop Sigmanet successfully staged its initial public offering (IPO) yesterday (21 July), generating total funds of BRL715.22 million (USD137.01 million). Shares were listed via the B3 stock exchange in Sao Paulo. As a result of the share sale, Denio Alves Lindo, the CEO and founder, saw his stake drop from 29% to 19%, while the interest held by co-owner Makalu (which manages HIG Capital’s stake in the ISP) was reduced from 59% to 38%.
TeleTime quotes Mr Lindo as saying: ‘We are already the biggest ISP in Sao Paulo, and we are going to be the biggest in Brazil. The big operators [need to] take care, because in a few years we will be on their trail and fighting for first place in the state of Sao Paulo and also in Brazil.’