Brazil's Alupar raises $421 million through IPO

Brazil's Alupar Investimento S.A. raised 851 million reais (US $421 million) through an initial public offering, according to data released on Monday by the country's stock market regulator. Alupar, an energy transmission and generation company, sold 46 million units through the offering at a price of 18.50 reais (US $9.16) per unit.
The price came in at the low end of the range of between 18.50 reais and 21.50 reais that had been previously indicated by the company for the offering. Each unit offered by Alupar, according to filings with the regulator, consists of one common share and two preferred shares in the company.