Cury’s R$850 Million Initial Public Offering

Simpson Thacher represented Cury Construtora e Incorporadora S.A. (“Cury”) and certain selling shareholders in the offering.

Cury Construtora e Incorporadora S.A. (“Cury”) executed its initial public offering on the São Paulo Stock Exchange (B3) at a public offering price of R$9.35 per common share. The offering raised R$850 million in gross proceeds (excluding the underwriters’ over-allotment option) to Cury and the Selling Shareholders.

The common shares were offered to certain qualified institutional buyers under Rule 144A in the United States and to non-U.S. persons outside the United States in reliance upon Regulation S. Cury’s common shares began trading on the B3 under the ticker symbol “CURY3” on September 21, 2020.

Cury concentrates its business on low-income real estate developments with a focus on the development and construction of residential projects that are part of the Minha Casa, Minha Vidahousing program and financed through the Brazilian Savings and Loan System.

The Simpson Thacher team included Grenfel S. Calheiros (Picture), Luiz F. Noronha, Winnie Y. Loureiro and Luana Torres (Capital Markets); and Jonathan Cantor and Nicole M. Humphrey (Tax).

Involved fees earner: Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Nicole Humphrey – Simpson Thacher & Bartlett; Winnie Loureiro – Simpson Thacher & Bartlett; Luiz Noronha – Simpson Thacher & Bartlett; Luana Torres – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Cury Construtora e Incorporadora S.A.;

Author: Ambrogio Visconti.