Apax, shareholders prepare IPO of Brazil’s Tivit: Reuters

British buyout firm Apax Partners LLP and a number of Brazilian investors have filed for regulatory permission to list information technology services provider Tivit Terceirização de Processos, Serviços e Tecnologia SA on the São Paulo Stock Exchange.

According to the website of Brazilian securities industry watchdog CVM, Apax as well as a number of investors led by Tivit Chief Executive Officer Luiz Roberto Mattar, will sell an unspecified number of shares in an initial public offering.

Proceeds from the so-called secondary offering will go to Apax and the other shareholders, and not for the company’s coffers, according to documents in the CVM website.