Brazil’s Brisanet shares close almost unchanged on first trading day on B3 exchange
RIO DE JANEIRO, BRAZIL – Brisanet (BRIT3) shares made their debut on B3 this Thursday (29), closing close to unchanged after operating in sharp decline for much of the trading session.
The BRIT3 shares closed with a slight positive variation of 0.07%, at R$13.93, after falling 9.77% in the minimum of the day, at R$12.56.
The share price came out at R$13.92 in the initial stock offering (IPO), at the floor of the range estimated by coordinators, which was up to R$17.26 each. In all, the transaction totaled R$1.435 billion.
With the sale of R$89.8 million in the primary tranche at the defined price, the company raised R$1.25 billion, resources that will be used to expand its own network and provide capital to Agility.
Brisanet, the largest independent fiber-optic internet provider in the country, operates in 96 cities in the Northeast region and its subsidiary Agility Telecom, which serves 251 cities in the region.
Created 22 years ago, Brisanet claims to have more than 14,400 kilometers of backbone infrastructure, serving Ceará, Rio Grande do Norte, Paraíba, Pernambuco, and Alagoas.
In the secondary tranche of the offer coordinated by Santander, XP, BTG Pactual, and UBS-BB, its current individual partners sold the equivalent of R$185.5 million of their stakes in the business.
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