Demand for high-speed internet continues to soar in the region, leading to the construction of mobile towers.
T4U and its key shareholder D Dots Investments BV are to sell a number of common shares in primary and secondary offerings, but no details of the IPO size has been revealed.
T4U’s IPO will be the first to file in Brazil in a year, and coincides with American Tower Corp’s expansion in the country.
There is an increasing trend in Brazil of tower companies disposing tower assets as a way to hold capital and protect its profits.
Investors have however become cautious in Brazil, after a series of deals that failed to deliver estimated returns and political uncertainty has further affected a flagging economy.
T4U is owned by Israeli company Fishman Group, and it has hired the banks of America Merrill Lynch, Itaú BBA, UBS and Citigroup to handle the IPO.
