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Big week for Brazil IPOs leaves sweet taste for Carrefour, Biotoscana

written by Bella Palmer

The busiest week for initial public offerings in Brazil in four years ended on Friday on an upbeat note for issuers, as a nascent economic recovery and the passage of key economic reforms helped to lure global investors.

Grupo Biotoscana SA, a Colombia-based pharmaceutical firm, and shareholders raised 1.34 billion reais (£327 million) in a Friday IPO. Three days earlier, the IPO of Brazil's biggest diversified retailer Grupo Carrefour Brasil SA fetched 5.12 billion reais (£1.25 billion).

That marked the busiest week for local equity offerings since April 25, 2013, when the IPOs of insurer BB Seguridade Participações SA and loyalty program Smiles SA raised 12.6 billion reais (£3 billion).


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