Thu, Jun 25th, 2009
SÃO PAULO -- In the aftermath of the global financial crisis, the world's biggest public-share offerings are happening on the exchanges of São Paulo and Hong Kong, not Wall Street.
An initial public offering by Brazil's VisaNet, formally called Cia. Brasileira de Meios de Pagamentos, raised 7.17 billion reais, or $3.64 billion, on the São Paulo stock exchange Thursday, according to people familiar with the deal. That marked the world's biggest IPO this year, beating the $1.26 billion raised by Chinese manufacturer Zhongwang Holdings Ltd. in April.
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