Offshore Services Firm OceanPact Completes $227 Million IPO

Brazil maritime services provider OceanPact Servicos Maritimos has concluded a 1.22 billion reais ($226.51 million) initial public offering, according to a securities filing on Wednesday.

OceanPact priced the offer at 11.15 reais per share, at the bottom limit of the indicative range of up to 13.85 reais per share.

The company raised 920 million reais in the offering, aimed at expanding its fleet of boats and buying other equipment, while shareholders sold about 300 million reais in shares.

($1 = 5.3860 reais)

(Reporting by Aluisio Alves; Writing by Jake Spring; Editing by Chris Reese)