GPS’s R$2.5 Billion Initial Public Offering

Simpson Thacher represented the placement agents in the offering.

GPS Participações e Empreendimentos S.A. (“GPS”) executed the initial public offering of 180,375,180 common shares on the São Paulo Stock Exchange (B3). The offering consisted of a primary offering of 90,187,590 common shares and a secondary offering of 90,187,590 common shares, at a price per share of R$12, and raised an aggregate of approximately R$2.5 billion. 

The common shares were offered to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in reliance on Regulation S. The shares of GPS are traded on the B3 under the ticker symbol “GGPS3.”

Itau BBA USA Securities, Inc., Goldman Sachs & Co. LLC, BofA Securities, Inc., BTG Pactual US Capital, LLC, Citigroup Global Markets, Inc. and Morgan Stanley & Co. LLC acted as placement agents in the offeirng.

GPS is a leader in the integrated services industry in Brazil, primarily providing facilities management, security services, maintenance and industrial services, and indoor logistics services. GPS has over 2,700 corporate customers located in 22 Brazilian states and more than 100,000 employees.

The Simpson Thacher team advising the placement agents included Grenfel S. Calheiros (Picture), Luiz F. Noronha and Isabel de Carvalho (Capital Markets); and Marcy G. Geller and Joseph A. Tootle (Tax).

Involved fees earner: Isabel de Carvalho e Silva – Cravath Swaine & Moore; Grenfel Calheiros – Simpson Thacher & Bartlett; Marcy Geller – Simpson Thacher & Bartlett; Luiz Noronha – Simpson Thacher & Bartlett; Joseph Tootle – Simpson Thacher & Bartlett;

Law Firms: Cravath Swaine & Moore; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; BTG Pactual US Capital, LLC; Citigroup Global Markets Singapore Pte Ltd; Goldman Sachs & Co.; Itaú BBA USA Securities; Morgan Stanley;

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