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Hidrovias do Brasil raises $608 mln in IPO

Reuters
·1 min read

SAO PAULO, Sept 23 (Reuters) - Shareholders of Brazilian logistics company Hidrovias do Brasil SA raised 3.4 billion reais ($608 million) in an initial public offering, according to a securities filing on Wednesday.

The company priced its shares at 7.56 reais, at the bottom of its price range.

Hidrovias do Brasil's shareholders include private equity funds managed by Patria Investimentos, Brazilian development bank BNDES and the World Bank's International Finance Corporation.

Investment banks Bank of America, Itau BBA, Santander Brasil, Morgan Stanley, BTG Pactual, Citi and Credit Suisse managed the offering. ($1 = 5.5931 reais) (Reporting by Carolina Mandl; editing by John Stonestreet)