Cury Completes Initial Public Offering on the São Paulo Stock Exchange (B3)
09.23.20
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The Firm represented Cury Construtora e Incorporadora S.A. (“Cury”) and certain selling shareholders (the “Selling Shareholders”) in connection with the initial public offering of Cury on the São Paulo Stock Exchange (B3) at a public offering price of R$9.35 per common share. The offering raised R$850 million in gross proceeds (excluding the underwriters’ over-allotment option) to Cury and the Selling Shareholders.
The common shares were offered to certain qualified institutional buyers under Rule 144A in the United States and to non-U.S. persons outside the United States in reliance upon Regulation S. Cury’s common shares began trading on the B3 under the ticker symbol “CURY3” on September 21, 2020.
Cury concentrates its business on low-income real estate developments with a focus on the development and construction of residential projects that are part of the Minha Casa, Minha Vida housing program and financed through the Brazilian Savings and Loan System.
The Simpson Thacher team included Grenfel S. Calheiros, Luiz F. Noronha, Winnie Y. Loureiro and Luana Torres (Capital Markets); and Jonathan Cantor and Nicole M. Humphrey (Tax).