Davis Polk & Wardwell LLP in London, Menlo Park, New York and São Paulo, and Lefosse Advogados in São Paulo have helped Brazilian healthcare services company Notre Dame Intermédica make an initial public offering worth 2.4 billion reais (US$673 million).
The underwriters relied on Pinheiro Neto Advogados in São Paulo for the deal which closed on 20 April. White & Case LLP is also thought to have advised the banks, but this could not be confirmed prior to publishing.
The shares priced at 16.50 reais (US$4.61) each, pricing above the middle of the suggested price range of 14.50 reais to 17.50 reais (US$4.03 – US$4.87), with reports suggesting that high volumes of foreign investor interest allowed the healthcare services provider to set the slightly above average price.
There have been a number of Brazilian IPOs since the start of the year, including healthcare provider Hapvida's offering, which raised 3 billion reais (US$851 million) last week; and Brazil's first fintech provider's IPO, which raised US$2.6 billion on the international market in January. Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados advised on both these deals, as well as a number of IPOs in 2017. Other Brazilian firms advising on recent IPOs include Cescon, Barrieu, Flesch & Barreto Advogados, Pinheiro Neto Advogados and Lefosse Advogados.
Counsel to Notre Dame Intermédica
In-house counsel - Lino José Rodrigues Alves and Luciana Marques Caropreso
Davis Polk & Wardwell LLP
Partner Manuel Garciadiaz and associate Lourenco Lopes-Sabino in São Paulo; counsel Drew Glover in Menlo Park; counsel Alon Gurfinkel and associate Omer Harel in London; and associate Jennifer Wang in New York
Partners Carlos Barbosa Mello and Luiz Octavio Lopes, and associates Rafael Erlinger, Douglas Ogata and Sylvie Cadier in São Paulo
Counsel to Morgan Stanley, Credit Suisse (Brasil), Itaú BBA, JP Morgan, UBS Brasil, Bradesco BBI and Citigroup Global Markets Brasil
Pinheiro Neto Advogados
Partners Fernando dos Santos Zorzo and Guilherme Sampaio Monteiro, and associate Ricardo Guimarães Barros in São Paulo