Since the early 90s, the Firm has had a key role in most initial public offerings in Argentina, for instance, the IPOs of Banco Macro and Banco Patagonia -the first placement of an Argentine company in Bovespa-, in 2008, the take over of Acindar through a common stock tender offer (which represented 35% of Acindar’s capital stock) by ArcelorMittal -the world’s largest steelmaker- for an amount of US$552 million, and in 2014, advising JP Morgan Securities, Citigroup Global Markets and Credit Suisse Securities (USA) in the US$66 million initial public offering of Globant -with this IPO, Globant has become the first Latin American software company to go public on the NYSE-.
Additionally, in 2015, the Firm advised Merrill Lynch, Pierce, Fenner & Smith Incorporated in the placement of shares of common stock (in the form of ADSs) of Pampa Energía S.A. in a registered offer with the Securities and Exchange Commission for an aggregate amount of approximately US$74.8 million, and in the US$74 million and US$144 million follow-on offerings of Globant. In 2016, Bruchou advised Morgan Stanley, Bank of America Merrill Lynch and Raymond James in the US$ 280 million initial public offering of Grupo Supervielle, the first international IPO of an Argentine company in recent years, and which breaks an IPO drought across South America. Moreover, in 2017 Bruchou advised Banco Macro S.A. in a global primary equity offering of shares for approximately US$ 766 million, and in 2018 the Firm provided legal advice to Central Puerto S.A. in an offering of ordinary shares by the selling shareholders in United States and other countries outside of Argentina, as well as in a concurrent offering in Argentina, both for an aggregate amount of US$ 379 million.
In addition, the Firm has participated in the only issuance of subordinated debt which qualifies as basic capital for an Argentine bank, and in the last issuance of subordinated debt which qualifies as complementary net worth for an Argentine bank.