Brookfield Asset's (TSX: BAM.A) Brazilian subsidiary files for IPO

Be the First to Comment Read

Brookfield Asset's (TSX: BAM.A) Brazilian subsidiary files for IPO

Follow us on Google News:
 Brookfield Asset's (TSX: BAM.A) Brazilian subsidiary files for IPO
Image source: © 2022 Kalkine Media®

Canada's Brookfield Asset Management's sanitation subsidiary in Brazil, BRK Ambiental, has filed for an IPO to finance its expansion, according to a preliminary prospectus filed with securities regulator CVM.

Brookfield has a 70 per cent stake in the company, which was acquired from Brazilian conglomerate Novonor, formerly known as Odebrecht.

Also Read: Can you buy SiFive stock in North American markets?

The primary share offering will be managed by the investment banking units of Banco BTG Pactual SA, Itau Unibanco Holding SA, Caixa Economica Federal, Banco Santander Brasil SA, Banco Bradesco SA and Citigroup.

The company could raise up to 3 billion reais ($623 million) in the offering, sources told Reuters when the company began considering the offering last year.

Also Read: Excelerate Energy IPO: When can you buy this LNG provider's stock? 

($1 = 4.8151 reais)

Disclaimer

The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK