(F&A) Oceânica Engenharia, which provides services to the maritime industry, has formed a syndicate with six banks to begin the process of going public on the stock exchange, in an offering that would be for primary and secondary distribution.
To be the coordinators of the offer, the company engaged BTG Pactual, Itaú BBA, UBS BB, Bradesco BBI, Santander and ABC Brasil. There is still no estimate of the amount to be raised, but the company informed that it intends to use the resources to acquire and customize vessels; acquisition of machinery and equipment; and increase in cash position.
The company, which has already been releasing quarterly results, ended the third quarter of last year with a cash equivalent position of R$231.1 million. From January to September 2023, net revenue reached R$684.3 million, an increase of 40.1% compared to the same period last year, while net profit totaled R$19 million, an increase of 88.7%. The Ebitda margin, in turn, jumped from 26.4% to 36.1% on the same comparison basis.
Controlled by founder and CEO Alfredo Califfa (who has a career as a professional diver), Oceânica Engenharia has been on the market since 1978 and, last year, raised R$445 million with an issue of debentures for a period of four years. The company has a long-standing partnership with Petrobras, providing vessel charter services. The company also operates, among other activities, in submarine pipeline projects and diving services.
Based in Rio, the company is the first Brazilian company to formally express its intention to list on the stock exchange in 2024, in a year that is treated by the market as the year of the resumption of IPOs. In a scenario of falling interest rates and greater optimism about the economy, there are at least 19 other companies that are candidates to go public this year, the majority from the energy and civil construction sectors. The last IPO of a Brazilian company was Nubank, in the United States, at the end of 2021
Brazil Energy Insight 
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