Brazil-based veterinary products maker Ouro Fino Saúde Animal Participações raised BRL418 million (approximately US$172 million) via an initial public offering (IPO) on 17 October, through which global growth equity investment firm General Atlantic acquired shares worth BRL200 million (approximately US$81 million) in the company, representing a 14.26 percent stake. The IPO, Brazil’s first of 2014, consisted of a primary offering of 3.94 million shares and a secondary offering of 11.53 million shares sold by controlling shareholders Jardel Massari, Norival Bonamichi and Brazilian national development bank BNDES. Ouro Fino will use the proceeds of the primary offering to finance its expansion and reduce its debt.