The truth about Asian investment banking
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July 2006

Alternative financing: An adventure into the unknown

by Felix Salmon

If Latin IPOs had a resurgence until a couple of months ago, so did structures that were either untried or hadn’t been used in years.


Jerome Booth: leadership
Brazilian fund manager GP Investimentos (Garantia Partners), for instance, raised $300 million on the Brazilian stock market by issuing not ordinary shares but rather Brazilian depositary receipts, or BDRs. The reason is that Garantia Partners is headquartered in Bermuda, so the company needed a listing outside Brazil. Nearly all the liquidity in the stock is on the Brazilian Bovespa, but the official main listing is in Luxembourg.

Other Latin companies are also rumoured...


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