Brazil’s Bahia-based Livetech broadband company considers IPO in New York

RIO DE JANEIRO, BRAZIL – Livetech announced in a note to the market on June 16 that it is evaluating a potential listing through an initial public offering (IPO) on a restricted efforts basis in Brazil and in the United States.

Focused on broadband and cybersecurity solutions, the company is in contact with investment banks for the potential offering. Among them are BTG Pactual, Bradesco BBI, Itaú BBA and Citigroup.

According to Livetech, the offering still depends on “Brazilian and international capital market conditions and regulatory and corporate approvals” to be implemented.

Should it decide to go ahead with the offering, Livetech will seek the cancellation of its prior request for an IPO on a restricted efforts basis made in February to the Securities and Exchange Commission of Brazil (CVM).

The difference between the two IPO modalities is the target public, where the offering on a restricted efforts basis is aimed only at professional investors.

In addition to Livetech, other companies in the sector are considering going public. Among them is the northeastern Brazilian company Brisanet and the Santa Catarina-based Unifique.

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