Hogan Lovells advises on three Brazilian IPO closings in two weeks

The firm advised placement agents BTG Pactual, Citigroup, Itaú BBA, and Santander Investment Securities in connection with the R$1.13 billion (US$210 million) IPO of Intelbras on the B3 exchange. Intelbras raised R$725 million (approx. US$135 million) from the sale of 36.8 million shares in a secondary offering, which settled on February 5. The issuer will use the IPO proceeds to, among other things, make acquisitions and expand manufacturing facilities in the states of Amazonas, Minas Gerais, and Santa Catarina.

The firm also advised the issuer Bemobi Mobile Tech S.A. in relation to its R$1.1 billion (US$204.1 million) IPO listed on the B3 exchange, which settled on February 11. The company distributes and monetizes apps, games, and other mobile digital services.

Finally, Hogan Lovells advised placement agents BTG Pactual, J.P. Morgan, Citigroup and XP Investimentos in connection with the R$1.0 billion (US$192.7 million) IPO of Westwing Comercio Varejista S.A. (Westwing) listed on the B3 exchange. Westwing will use the proceeds of the transaction, which settled on February 12, to accelerate growth, invest in its own brand, and on technology and logistics.

A Hogan Lovells team advising on all three listings comprises São Paulo office managing partner Isabel Costa Carvalho, partner Sina Hekmat (New York), counsel David Contreiras Tyler (New York and São Paulo), attorney Arthur Amaral (São Paulo), associate Ana Laura Pongeluppi (São Paulo) and visiting international lawyer Camila Smith (New York).

Our Hogan Lovells capital markets team regularly advises clients in Latin America on a wide variety of capital markets transactions involving complex and high-value offerings of equity, debt, and hybrid securities. We are able to structure and execute capital markets transactions in order to maximize client goals, including developing innovative transactional structures.