Compass Breaks 5-Year Brazil IPO Drought With $650 Million Offer
The IPO is the first in Brazil’s stock exchange B3 since 2021, ending a near five-year drought of new listings in Latin America’s largest economy.
Photographer: Victor Moriyama/BloombergCompass Gas e Energia SA’s shareholders raised 3.2 billion reais ($650 million) the first initial public offering in Brazil in almost five years, according to people familiar with the matter.
The natural gas and energy company sold 89.3 million shares at 28 reais apiece on Thursday, the bottom end of the indicative range, the people said, asking not to be named because the information wasn’t public. Including the over-allotments, it raised a total of 3.2 billion reais, they added.