Pinheiro Neto, Machado Meyer, Milbank and Hogan Lovells in billionaire IPO of Caixa Seguridade
Pinheiro Neto and Milbank LLC represented the underwriters and Machado Meyer and Hogan Lovells represented Caixa Seguridade in the R$5 billion IPO
The IPO of Caixa Seguridade Participações S.A., the company that holds CAIXA Econômica Federal’s equity stakes in the insurance and insurance brokerage sectors, moved R$ 5,004,225,000 on B3. It is the second biggest IPO of the year on the Brazilian stock exchange.
The IPO was carried out in Brazil as a fully registered offering, according to CVM Instruction 400, and with placement efforts outside Brazil (144A/Reg S). It is the first public offering of shares of the CAIXA Group. The offer destined at least half of the shares to individual investors. In conventional IPOs, retail investors get a maximum 10% share of the total.
Pinheiro Neto Advogados represented the underwriters Banco Morgan Stanley S.A., Caixa Econômica Federal, Bank of America Merrill Lynch Banco Múltiplo S.A., Banco de Investimentos Credit Suisse (Brasil) S.A., Banco Itaú BBA S.A. and UBS Brasil Corretora de Câmbio, Títulos e Valores Mobiliários S.A. and counted on a team formed by partners Henrique Lang (pictured top left), Fernando Mirandez (pictured top centre), Guilherme Monteiro (pictured top right), senior associate Gustavo Chauffaille, associate Felipe Assunção and legal assistants Gabriela Pereira and Giovana Mantesso.
Milbank LLC – U.S. underwriting advisory services to underwriters with partner Tobias Stinberg (pictured bottom left), and associates Marcella Gurgel, and Lays Lima Dutra
Machado Meyer Sendacz Opice represented Caixa Seguridade with a team formed by partner Eliana Chimenti (pictured bottom centre) and lawyers Rafael Erlinger, Pedro Ricco, and Isabelle Valente.
Hogan Lovells was the US attorney for Caixa Seguridade with partner Isabel Costa Carvalho (pictured bottom right) and associates Arthur Amaral, Paula Pagani, and Ana Pongeluppi.
