Brazil’s maritime service firm OceanPact completes US$227 million IPO

The company raised R$920 million in the offering, aimed at expanding its fleet of boats and buying other equipment, while shareholders sold about R$300 million in shares.

RIO DE JANEIRO, BRAZIL - Brazil maritime services provider OceanPact Serviços Marítimos has concluded a R$1.22 billion (US$226.51 million) initial public offering, according to a securities filing on Wednesday, February 11th.

OceanPact priced the offer at R$11.15 per share, at the bottom limit of the indicative range of up to R$13.85 per share.

The company raised R$920 million in the offering, aimed at expanding its fleet of boats and buying other equipment, while shareholders sold about R$300 million in shares. ($1 = 5.3860 reais)

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