Brisanet Completes Initial Public Offering on the São Paulo Stock Exchange (B3)
07.30.21
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The Firm represented Brisanet Participações S.A. (“Brisanet”) in connection with Brisanet’s initial public offering on the São Paulo Stock Exchange (B3) at a public offering price of R$13.92 per common share. The offering raised R$1.25 billion in gross proceeds (excluding the underwriters’ over-allotment option).
The common shares were offered to certain institutional investors in Brazil, to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons outside the United States in reliance upon Regulation S. Brisanet’s common shares began trading on the B3 under the ticker symbol “BRIT3” on July 29, 2021.
Brisanet is one of the largest independent internet service provider in Brazil with fiber optic technology, with approximately 697,000 subscribers and more than 6,300 employees spread over 96 cities in the Northeast region of Brazil.
The Simpson Thacher team was led by Grenfel S. Calheiros and Paulo F. Cardoso and included Siddharth Fresa and João Felipe Rocha (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).