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The pricing of the IPO of Carrefour Group’s Brazilian subsidiary Atacadão on Wednesday and Grupo Biotoscana on Friday show that the market is open despite the political uncertainty in the country.
Itaú BBA led the deal, with Bank of America Merrill Lynch, Bradesco BBI, Goldman Sachs, JPMorgan and Santander participating, which priced at the bottom of its R$15 to R$19 range.
The deal raised $1.6 billion and is significant as it is the first IPO in the country since airline Azul in April.
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