Vero is the latest Brazilian ISP to pursue an IPO

23 Aug 2021

Brazilian regional operator Vero Internet is the latest mid-sized ISP to file for an initial public offering (IPO), TeleTime reports. The company submitted its request to the Securities and Exchange Commission of Brazil (Comissao de Valores Mobiliarios, CVM) on 18 August. The IPO process will be coordinated by Itau BBA, UBS, BTG Pactual, Santander, XP and JPMorgan.

TeleGeography notes that Vero Internet was created by Vinci Partners – an alternative investment platform specialising in asset management – back in January 2019. The National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) credited Vero with 238,790 fixed broadband subscribers as of 30 June 2021.

As previously reported by CommsUpdate, this summer has seen successful IPOs by the likes of Brisanet (BRL1.437 billion [USD266.98 million]), Unifique (BRL818.07 million) and Desktop Sigmanet (BRL715.22 million).

Brazil, Vero Internet