December 1, 2009 — In a public tender held on Nov 30, investment funds paid 86.1mn reais (US$49.8mn) for 15.9mn outstanding shares in Ideiasnet (Bovespa: IDNT3), a Brazilian holding company with stakes in 15 technology firms, local press reported.

The funds – Centennial, FIP Hankoe, Total Return, Gustavia and Fundos Mercatto – already owned 30.3mn shares in Ideiasnet and had originally planned to buy up to 69.9mn shares at 5.23 reais per share. In the end they paid 5.41 reais per share, while brokerage Máxima CTVM purchased another 50,000 shares at 5.50 reais per share, resulting in Ideaisnet raising a total of 86.4mn reais.

Ideiasnet’s capital is made up of roughly 104mn shares. The company’s shares are traded on Novo Mercado, São Paulo Stock Exchange’s most rigorous division in terms of corporate governance.

The holding company’s ventures break down into four e-commerce firms, five telecoms hardware and services firms and six content or marketing firms.

In a research note, Pedro Gomes de Souza investment analyst with Bancofator brokerage said that on one hand, the operation is positive for Ideiasnet, as it reaffirms that local investors are interested in the company, most notably local mining billionaire Eike Batista, who owns Centennial.

“On the other hand, the company’s free float was reduced and, consequently, the shares’ liquidity, which is already low, may be reduced even further”, Gomes de Souza said.

– BN Americas