Visanet makes historys biggest IPO
O Estado de S. Paulo
The Initial Public Offering (IPO) of Visanet confirmed the expectations and became the biggest IPO in the history of the São Paulo Exchange (Bovespa). The processor of credit and debt cards, that in Brazil has the exclusiveness of Visa brand, raised R$ 8.4 billion (US$ 4.2 billion). The IPO is also one of the greatest in the world in 2009 so far. The common stock will start to being traded on Monday on the trading floor by R$ 15 (US$ 7.5), at the ceiling of the suggested interval - which went from R$ 12 to R$ 15 (US$ 6/7.5). This way, Visanet makes its way into Bovespa (with the VNET3 code) with a market value of R$ 20.5 billion (US$ 10.25 billion), very close to the rival Redecard (R$ 21.1 billion/US$ 10.55 billion).
The company has Bradesco, BB Investimentos, Grupo Santander and Visa International as shareholders. The offering was of 477,674,330 stocks in the main lot, up to 71,651,149 stocks in the supplementary lot and up to 95,534,866 stocks in the additional lot, amounting to 644,860,345 stocks.
According to data sent to the Brazilian Securities and Exchange Commission (CVM), the offering traded 559,813,928 common stocks, indicating the main lot, the supplementary and part of the additional lot were sold. The final numbers will be published by the company in the announcement of the end of the operation, expected for up to August 7. According to the offer registered, 41.01% of the company goes from the control of the financial institutions to the market.