Intelbras aims to raise R$1.2bn with IPO

Communication and security equipment producer Intelbras has set the price range for its initial public offering at R$15.25 to R$19.25. Considering the offering’s 72 million shares, the target range’s midpoint could bring in R$1.2 billion. Another 25.2 million shares could be sold depending on investor demand, potentially raising the proceeds to around R$1.7 billion in the price range. The final price is expected to be set on February 2. Founded in 1976 in Santa Catarina, Intelbras diversified from telephone receivers to electronic security equipment in recent years.

Source: Valor International