Norton Rose Fulbright's New York and São Paulo Offices recently advised the Brazilian underwriters and the international placement agents on Plano & Plano Desenvolvimento Imobiliário S.A.'s (Plano & Plano) approximately 600 million Brazilian Reais IPO.
Plano & Plano is a large real estate developer that focuses primarily on developing low-income housing in São Paulo's metropolitan areas. The IPO and B3 stock exchange listing was underwritten by Banco Itaú BBA, Banco BTG Pactual S.A., Bradesco BBI S.A., Banco Morgan Stanley S.A. and Caixa Econômica Federal.
A concurrent offering outside of Brazil, pursuant to Rule 144A/Regulation S, was placed by Itau BBA USA Securities, Inc., BTG Pactual US Capital, LLC, Bradesco Securities, Inc. and Morgan Stanley & Co. LLC.
The Norton Rose Fulbright cross-border team included George Baptista and Manny Rivera (New York); and Cameron Royse, Raphael de Barros and Gustavo Schneider (São Paulo).