Brazilian ISP Brisanet – the country’s fifth-largest broadband provider by subscribers – has priced its shares at BRL13.92 (USD2.67) ahead of its initial public offering (IPO) later today (29 July). The share price is at the lower end of indicative range that was previously submitted to the Securities and Exchange Commission of Brazil (Comissao de Valores Mobiliarios, CVM). According to TeleTime, the IPO stands to generate funds of BRL1.437 billion. Shares will be sold via the B3 stock exchange in Sao Paulo, under the ‘BRIT3’ ticker symbol.
TeleGeography notes that Brisanet is the latest mid-sized Brazilian ISP to pursue an IPO. Earlier this week, Santa Catarina-based Unifique generated a total of BRL818.07 million from its IPO, while last week Desktop Sigmanet staged its own listing, raising BRL715.22 million.