July 22 (Bloomberg) -- Abril Educacao SA, a Brazilian education and publishing group, sold shares at 20 reais in an initial public offering, below the estimated price range of 21.75 reais to 26.75 reais set in its prospectus.
At least eight companies have shelved first-time sales in Brazil this year before yesterday, data compiled by Bloomberg and the securities regulator show.
GOVERNMENT: *President Dilma Rousseff has internal meetings starting at 9 a.m. *Finance Minister Guido Mantega meets with the board of Petrobras in Brasilia at 10:30 a.m. *Central bank president Alexandre Tombini has meetings in Brasilia.
WHAT TO WATCH: *Creditors of Independencia, the meatpacker operating under bankruptcy protection with an estimated 1.9 billion reais of debt, vote on bids for its assets.
EQUITIES: *OSX (OSXB3 BZ) entered into a pact worth $800 million with Modec Inc. for the construction of its FPSO unit, OSX-3. *Gafisa (GFSA3 BZ) led a rally for Brazilian homebuilders yesterday after the central bank signaled it may stop raising interest rates, boosting the outlook for demand.
MARKETS *The Bovespa index rose 1.9 percent to 60,262.95 *The real rose 0.8 percent to 1.5526 per dollar.
--Editor: Laura Price
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