Business

Brazilian electronics firm Intelbras moves BRL 1.3 billion in its IPO

The shares of the manufacturer of cameras and electronic security and communication equipment will debut at Brazilian stock exchange B3 on Thursday, under the ticker INTB3

Reuters

03.Feb.2021 15:12 BRT

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The company priced the papers at BRL 15.75 each – close to the threshold of the indicative range between BRL 15.25 to BRL 19.25 per share;
The funds will be used for acquisitions, expand its industrial capacity, expand software and hardware solutions and expand retail channels.

Brazilian electronics and energy firm Intelbras concluded its IPO at the end of Tuesday, moving BRL 1.3 billion, according to documents to the Brazilian Securities and Exchange Commission (CVM).

The company priced the papers at BRL 15.75 each – close to the threshold of the indicative range between BRL 15.25 to BRL 19.25 per share – and raised BRL 724.5 million.

The funds will be used for acquisitions, expand its industrial capacity, expand software and hardware solutions and expand retail channels, according to the preliminary prospectus of the IPO.

The remaining funds – BRL 579.6 million – will go to the selling shareholders.

The shares of the manufacturer of cameras and electronic security and communication equipment will debut at Brazilian stock exchange B3 on Thursday, under the ticker INTB3.

BTG Pactual, Citi, Itaú BBA and Santander Brasil are the operation’s coordinators.