On July 27, two Brazilian issuers successfully completed their IPOs, for a combined total of $783m. Reinsurance firm IRB-Brasil Resseguros‘ $551m offering is Latin America’s largest insurance sector IPO in 4 years; while energy company Omega Geracao‘s $232m deal is the region’s third IPO from the renewable sector.

As a trusted financial platform partner, Dealogic helped the bookrunners seamlessly execute the transactions through the DealManager network. 

Transaction Details–IRB-Brasil Resseguros

Nationality: Brazil

Industry: Insurance

Deal Value ($m): $551

Deal Type: IPO

Bookrunners: Bradesco, Banco do Brasil, Itau, JPMorgan, Brasil Plural SA Banco Multiplo, BTG Pactual, and Bank of America Merrill Lynch

Transaction Details–Omega Geracao

Nationality: Brazil

Industry: Energy

Deal Value ($m): $232

Deal Type: IPO

Bookrunners: BTG Pactual, Bank of America Merrill Lynch, Bradesco, Itau, Santander, and XP Investimentos

Key Points

• The last time two Brazilian IPOs priced on the same day was April 25, 2013–with offerings for insurance firm BB Seguridade Participacoes ($5.7bn) and frequent-flyer program Smiles ($560m)
• 11 Latin America IPOs have priced so far this year with a total value of $5.4bn–already the highest annual level for deal activity since 2014 (also 11 IPOs, raising $2.2bn) and volume since 2013 ($13.5bn via 20 IPOs)
• The most active bookrunners for Latin America IPOs in 2017 YTD are JPMorgan and Itau, each with 7 IPOs priced. JPMorgan leads the volume ranking with a market share of 19.8%

Top 3 Brazilian IPOs in 2017 YTD

1. Grupo Carrefour Brasil, $1.4bn | Retail | Brazil | Jul 2017
2. Azul, $643m | Transportation | Brazil | Apr 2017
3. IRB-Brasil Resseguros, $551m | Insurance | Brazil | Jul 2017

Top 3 Global Insurance IPOs in 2017 YTD

1. ING Life Insurance Korea, $974m | Insurance| South Korea | Apr 2017
2. IRB-Brasil Resseguros, $551m | Insurance | Brazil | Jul 2017
3. FFI Holdings, $75m| Insurance | Unites States | Jun 2017

Data Source: Dealogic as of July 28, 2017