Eletromidia’s R$872 Million Initial Public Offering

Simpson Thacher represented Eletromidia S.A. in the offering, while Skadden represented Morgan Stanley, Itaú BBA, Bradesco BBI, UBS Investment Bank and Santander.Eletromidia S.A. (“Eletromidia”) executed the initial public offering of Eletromidia on the São Paulo Stock Exchange (B3) at a public offering price of R$17.81 per common share. The offering raised R$872 million in gross proceeds (excluding the underwriters’ over-allotment option).

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. Eletromidia’s common shares began trading on the B3 under the ticker symbol “ELMD3” on February 17, 2021.

Eletromidia is the largest out-of-home media company in Brazil in terms of revenues and number of screens, and reaches an audience of approximately 22 million people per day in 18 Brazilian states.

The Simpson Thacher team advising Eletromidia included Grenfel S. Calheiros (Picture) and Luiz F. Noronha (Capital Markets); and Jonathan Cantor and Suzy Yaster (Tax).

The Skadden team leading the deal in São Paulo included Corporate partner Filipe Areno, counsel Lauren Bennett, and associate Carlo von Hanstein. The team also included New York Tax partner Victor Hollender and associateJoshua Lin.

Involved fees earner: Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Luiz Noronha – Simpson Thacher & Bartlett; Susan Yaster – Simpson Thacher & Bartlett; Filipe Areno – Skadden Arps Slate Meager & Flom; Lauren Bennett – Skadden Arps Slate Meager & Flom; Victor Hollender – Skadden Arps Slate Meager & Flom; Joshua Lin – Skadden Arps Slate Meager & Flom; Carlo von Hanstein – Skadden Arps Slate Meager & Flom;

Law Firms: Simpson Thacher & Bartlett; Skadden Arps Slate Meager & Flom;

Clients: Bradesco BBI; Eletromidia S.A.; Itaú BBA USA Securities; Morgan Stanley; Santander; UBS Investment Bank;

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