More than 40% ($760 million) of the bank’s $1.9 billion offering, which included a greenshoe option, was placed with local retail investors. Bankers reckon that many intend to hold on to their shares. "The retail investors that usually participate in IPOs often go in and try to get a quick turnover on their money. But for this most recent jumbo offering the bank has attracted a more long-term orientated retail audience, such as the father who wants to invest $1,000 for his son in 10 years’ time," says Evandro Pereira, managing director, head of Latin America, equity capital markets at UBS, which co-managed the deal with BB...
