Insurer Caixa Seguridade raises R$5bn in IPO

Boosted by retail investors, insurance company Caixa Seguridade raised R$5 billion in its IPO, concluded Tuesday. The value is the second highest so far this year, behind only CSN Mineração, whose IPO raised R$5.2 billion in February. Fifty five percent of the stocks end up on the hands of individual investors and the share price of R$9.67 was not discounted. Amid a very volatile market, other companies who debuted at the stock exchange in the last weeks had to reduce their price expectations. Others postponed plans to go public.

Source: Valor international