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News May 18, 2020

Estapar’s Initial Public Offering

Shearman & Sterling advised BTG Pactual U.S. Capital, LLC, Bradesco Securities, Inc., Santander Investment Securities Inc. and Banco do Brasil Securities LLC as international placement agents in connection with the initial public offering of 28.6 million common shares of Allpark Empreendimentos, Participações e Serviços S.A. (Estapar), one of the largest operators of automobile parking lots in Brazil.

This is the first IPO in Brazil since the beginning of the COVID-19 pandemic.

The offering generated gross proceeds to Estapar of R$300.3 million that were used to pay for part of the concessionaire fee for the São Paulo on-street Blue Zone parking concession.

The Team