Brazil IPOs Finally Take Off With Busiest Week in Seven Years

(Bloomberg) -- Brazil’s initial public offering market is set for its busiest few days in seven years, with three IPOs expected this week after Notre Dame Intermedica Participacoes SA’s successful debut.

The Bain Capital-backed health insurer surged as much 19 percent on Monday after it priced shares at 16.50 reais ($4.8) each last Thursday, raising 2.42 billion reais without accounting for the greenshoe amount.

The sale, originally planned for mid-last year, was the first successful IPO in Brazil after a spate of deals failed to materialize in the first quarter, including Carlyle Group’s toy retailer Ri Happy Brinquedos SA.

Healthcare operator Hapvida Participacoes e Investimentos SA is expected to follow, pricing shares on Monday in a deal that could raise up to 4.24 billion reais -- the largest of the pack. Other upcoming IPOs include fintech Banco Inter SA and shoe retailer Dass Nordeste Calcados e Artigos Esportivos SA, both scheduled to price on Thursday.

Combined, the four share sales could bring in about 8.5 billion reais, considering the highest point of the projected ranges.

Before this 8-day cluster, the busiest IPO pricing boom was February 2 to 9, 2011. That included shoemaker Arezzo Industria e Comercio SA and oil company QGEP Participacoes SA.

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