Urca Actual State advances with IPO

Urca Real State, which invests in the US real estate market, has advanced its process for an initial public offering (IPO). The company updated the prospectus filed with the Securities and Exchange Commission (CVM) in August and now provides pricing on November 22.

If it materializes, it will be the first – and possibly the only – IPO of 2022. The price range, which had already been defined, ranges from R$52 to R$68 per BDR. Considering the middle of the range, of R$ 60, and the base offer of 8 million shares, the transaction would raise R$ 480 million.

Urca Real Estate Holdings Company is a company incorporated under the jurisdiction of Bermuda as an asset holding company. According to the prospectus, it was founded on May 21, 2021 “with the objective of offering Brazilian investors the opportunity to invest in the American real estate market, through the issuance of BDRs”. The company is in the process of listing on the Bermuda Stock Exchange. The offer is coordinated by Guide Investimentos.

Source: Valor Econômico