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Brazil's Oceanica taps banks for potential IPO

Reuters
·1-min read

SAO PAULO, Jan 17 (Reuters) - Brazilian marine engineering firm Oceanica Engenharia on Wednesday said it is considering filing for an initial public offering (IPO) that would comprise both primary and secondary share sales.

Oceanica in a securities filing said it had hired investment banks BTG Pactual, Itau BBA, UBS Brasil, Bradesco BBI, Santander Brasil and ABC Brasil to help it analyze and manage the potential offering.

Local newspaper Valor Economico reported that the company was aiming to raise at least 1 billion reais ($202.84 million), citing a source familiar with the matter.

Brazil has not seen an IPO in more than two years amid stiflingly high interest rates, but bankers see an open window for public offerings this year after the central bank kicked off a monetary easing cycle in August. ($1 = 4.9300 reais) (Reporting by Alberto Alerigi Jr.; Editing by Mark Porter)