Shearman & Sterling Advises on IPO by Companhia de Saneamento do Paraná – SANEPAR
Shearman & Sterling represented Bradesco Securities, Inc., BTG Pactual US Capital, LLC, Itau BBA USA Securities, Inc. and Banco Votorantim Securities, Inc. as placement agents in connection with the initial public offering of 184,810,633 shares of Companhia de Saneamento do Paraná - SANEPAR’s preferred stock, including the exercise of an over-allotment option consisting of an additional 23,101,329 shares. The R$1.7 billion offering, equivalent to approximately US$500 million, was the largest Brazilian IPO of 2016. The shares were offered to the public in Brazil and under Rule 144A/Regulation S internationally, and are listed on the Level 2 segment of the BM&FBOVESPA.
Headquartered in Curitiba, SANEPAR is one of the largest sanitation companies in Brazil and provides water supply and sewage services in the State of Paraná.
The Shearman & Sterling team included partner Stuart Fleischmann (New York-Capital Markets); associates Flavio Averbug (New York-Capital Markets) and Filipe Lima (São Paulo-Capital Markets); and international associate Mariana Pacini (New York-Capital Markets).