30 May 2007
The London Stock Exchange is delighted to welcome Itacare Capital Investments Limited to AIM.
Itacare Capital Investments is the first Brazilian company to list in London and specialises in investing in high quality, residential resorts on the North East coast of Brazil.
The company was formed in April 2006 and is domiciled in the British Virgin Islands. It has completed a successful offer, raising £44million, principally from a range of high quality institutional investors.
The company will use the proceeds of its IPO to fund the development of luxury beachfront resorts in the Bahia region of Brazil. Its portfolio includes Brazil’s first six-star resort, the Anouska Hempel-designed Warapuru.
Pedro de Miranda, Managing Director of Itacare Capital Partners, the Investment Manager, commented:
“We are delighted to have successfully completed the company’s quotation on the London Stock Exchange and to welcome a wide range of high quality investors. We believe that we are providing a rare opportunity for investors to gain access to a strong pipeline of high-quality development projects, located in a market that is enjoying a rapid increase in demand, both from investors and from tourists.”
Numis Securities acted as Nominated Advisor and Broker to the company.