Brazilian food processor Camil Alimentos SA filed on Tuesday with the country’s securities industry regulator for an initial public offering of shares.
According to the filing, the offer will be handled by the investment banking units of Itaú Unibanco Holding SA (ITUB4.SA), Banco Bradesco SA (BBDC4.SA), Bank of America Corp (BAC.N), JPMorgan Chase & Co (JPM.N) and Santander Brasil SA (SANB11.SA).
The share offering will have a primary portion, in which proceeds go to the company, and a secondary portion, in which current shareholders sell part of their stakes.
According to the filing, private equity firm Warburg Pincus LLC will sell part of its 31 percent stake. O Estado de Sao Paulo reported the hiring of the banks earlier on Tuesday.
Brazil has seen IPO activity skyrocket in recent months as it slowly recovers from its deepest recession in decades and government efforts to curb the growth of public debt help to lure global investors.
Last week was the busiest for equity listings in the country in four years, with several other companies expected to price their IPOs in coming weeks.
Source: Reuters.com