OGX, the Brazilian mining company owned by billionaire Eike Batista, and the Bolsa Mexicana de Valores, the Mexican stock exchange, both came to market last month with landmark IPOs. They were important deals in a number of respects, including getting Latin primary market issuance going again this year. At least as significant was the emergence of China’s sovereign wealth fund, China Investment Corporation, as an investor in Latin American IPOs.
Batista’s OGX raised R$5.87 billion ($3.6 billion), and if the lead managers – UBS Pactual, Credit Suisse and Itaú BBA – exercise the greenshoe option,...
