Intelbras SA’s $210 Million IPO

Paul Hastings LLP advised Intelbras SA on the deal. Trench, Rossi e Watanabe Advogados acted as Intelbras legal counsel in Brazil. Hogan Lovells LLP, in United States, and Veirano Advogados, in Brazil, advised the underwriters.

Intelbras SA, a prominent Brazilian retailer of electrical telecom components, announced its approximately $210 million (1.13 billion Brazilian reais) initial public offering of shares on the Brazilian B3 exchange, which settled on February 5, 2021. The IPO was open to international investors through a private placement under Rule 144A / Regulation S.

Intelbras priced the shares at 15.75 each and raised 724.5 million Brazilian reais in the primary offering. The remaining 409.5 million Brazilian reais will go to the selling shareholders. The funds will be used for acquisitions, expand its industrial capacity, expand software and hardware solutions and expand retail channels.

The Brazilian underwriters and international placement agents included BTG Pactual, Citi, Itaú BBA and Santander Brasil.

Deloitte Touche Tohmatsu Auditores Independentes and Ernst & Young Auditores Independentes S.S. acted as Auditors in the transaction.

Partner David Flechner (Picture) led the Paul Hastings team, which also included associates Diana Balassiano, Filipe Lima and Thomas Ayres in Sao Paulo, with support from partner David Makso and associate Rob Wilson in New York.

Trench, Rossi e Watanabe Advogados advised Intelbras with Daniel Facó (Partner), Marcelo Moura (Associate), Catherine Shirazi (Associate), Marie Grinberg (Associate), Thomaz Penna (Associate), and Bruno Silva (Associate).

Veirano Advogados advised the underwriters with a team le by
Daniela Pellegrino Anversa (Partner), Diego Fraga Lerner (Partner), with Raisa Reggiori (Associate), Fernanda Rossetto Fossati Santa Maria (Associate), Joyce Vicente Martins, and Levi Santos (Lawyer).

Hogan Lovells LLP also advised the underwriters with Isabel Carvalho (Partner), Sina R. Hekmat (Partner), David Contreiras Tyler (Counsel), Arthur Amaral (Foreign Consultant), Ana Laura Pongeluppi (Associate), and Camila Smith (Visiting International Lawyer).

Involved fees earner: Isabel Carvalho – Hogan Lovells; David Contreiras Tyler – Hogan Lovells; Sina Hekmat – Hogan Lovells; Ana Laura Pongeluppi – Hogan Lovells; Arthur Rodrigues do Amaral – Hogan Lovells; Camila Smith – Hogan Lovells; Thomas Ayres – Paul Hastings; Diana Balassiano – Paul Hastings; David Flechner – Paul Hastings; Filipe Lima – Paul Hastings; David Makso – Paul Hastings; Rob Wilson – Paul Hastings; Daniel Facó – Trench, Rossi and Watanabe (BakerMckenzie); Marie Grinberg – Trench, Rossi and Watanabe (BakerMckenzie); Marcelo Martins Moura – Trench, Rossi and Watanabe (BakerMckenzie); Thomaz Murta e Penna – Trench, Rossi and Watanabe (BakerMckenzie); Catherine Orzes Shirazi – Trench, Rossi and Watanabe (BakerMckenzie); Bruno Cesar Tavares da Silva – Trench, Rossi and Watanabe (BakerMckenzie); Daniela Anversa – Veirano Advogados; Levi Custódio Santos – Veirano Advogados; Diego Lerner – Veirano Advogados; Joyce Vicente Martins – Veirano Advogados; Raisa Reggiori Pereira – Veirano Advogados; Fernanda Rossetto Fossati – Veirano Advogados;

Law Firms: Hogan Lovells; Paul Hastings; Trench, Rossi and Watanabe (BakerMckenzie); Veirano Advogados;

Clients: Banco BTG Pactual S.A. – Cayman Branch; Banco Itau BBA; Banco Santander Brazil; Citigroup Global Markets Brasil, Corretora de Câmbio, Títulos e Valores Mobiliários S.A.; Intelbras SA;

Author: Ambrogio Visconti.