Brazil-based Vinci Partners Investments launches IPO

Brazil-based Vinci Partners Investments Ltd. launched an initial public offering of 13,873,474 class A common shares at an estimated price range of between $16.00 and $18.00 per share.

The asset manager plans to grant the offering's underwriters a 30-day option to purchase up to an additional 2,081,021 class A common shares at the IPO price, less underwriting discounts and commissions.

Vinci Partners has applied to list its class A common shares on the Nasdaq Global Select Market under the ticker symbol VINP.

Following the offering, existing shareholders Gilberto Sayão da Silva, Alessandro Monteiro Horta, Paulo Fernando Carvalho de Oliveira and other partners of the company will beneficially own about 92.5% of its voting power and 75.0% of its outstanding share capital, assuming no exercise of the underwriters' option.

Sayão da Silva will beneficially own about 77.9% of the voting power and 26.1% of the outstanding share capital, while all other partners of the company will beneficially own about 14.6% of the voting power and 49.0% of the outstanding share capital, assuming no exercise of the underwriters' option.

Vinci Partners plans to use the net proceeds from the sale to fund investments in its own products, pursue opportunities for strategic transactions and other general corporate purposes.

J.P. Morgan, Goldman Sachs & Co. LLC and BTG Pactual are acting as global coordinators and joint bookrunners for the offering. Itaú BBA, BofA Securities, Credit Suisse and UBS Investment Bank are acting as joint bookrunners.