The Brazilian securities regulator announced Friday that VisaNet, the credit card processor that is Visa’s Brazilian affiliate, would raise 8.4 billion reais ($4.3 billion) in an initial public offering.
The issue is the largest in the world since last summer and an all-time record for Brazil, the largest economy in Latin America.
Visanet, officially known as the Cia. Brasileira de Meios de Pagamentos, the São Paulo-based processor of payments for the credit card network, is selling 559.8 million voting shares at 15 reais each.
Banco Bradesco BBI, which holds a 40 percent stake in the company, is leading the offer, alongside several other Brazilian banks. JPMorgan has also been named as a bookrunner.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment