Brazil : Tivit's IPO banks US$368mn.Brazilian IT and business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in firm Tivit has raised nearly 661mn reais (US$368mn) in its initial public offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) on the Sao Paulo stock exchange Sao Paulo Stock Exchange See: Bolsa de Valores de Sao Paulo Bovespa, according to information sent to local securities regulator CVM. Tivit sold more than 44mn shares at a cost of 15 reais each - below initial estimates of share prices of 16.50-20.50 reais, which would have brought in more than 708mn reais. The shares will be made public under the ticker symbol TVIT3 starting on September 28. Credit Suisse was the lead coordinator of the operation, while Morgan Stanley and Bradesco BBI BBI Blockbuster Inc. (stock symbol) BBI Berlin Brandenburg International (Airport) BBI Broadband-Interactive BBI Browser-Based Interface BBI Best Brains Inc. were joint bookrunners. Tivit had previously disclosed plans to launch an IPO in 2007, but the initiative was scrapped in April of 2008 as international market conditions began to deteriorate. In May, local press quoted the firm's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Luiz Mattar, as saying that Tivit expects revenues this year to hit 1.1bn reais, an increase of 20%. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion