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Brazil IT firm Tivit's shareholders aim for up to $580 mln IPO
September 11, 2017 / 9:44 PM / 14 days ago

Brazil IT firm Tivit's shareholders aim for up to $580 mln IPO

SAO PAULO, Sept 11 (Reuters) - Shareholders of Brazilian information technology provider Tivit Terceirização de Processos, Serviços e Tecnologia SA on Monday said they planned to raise up to 1.8 billion reais ($580 million) in an initial public offering.

In a regulatory filing with Brazil’s securities industry watchdog, Tivit said its shareholders plan to sell 30.9 million shares at a price between 43 reais and 51 reais each. If there is demand, the company can sell additional 4.6 million shares.

Tivit, which is controlled by British buyout firm Apax Partners LLP, will be listed in Brazil, but institutional investors in the United States may buy shares in the IPO through Regulation 144A. ($1 = 3.10 reais) (Reporting by Tatiana Bautzer; Editing by Jonathan Oatis)

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