week in four years@ (Adds confirmation of BK pricing, amount raised, background throughout)
SAO PAULO, Dec 14 (Reuters) - The operator of Burger King restaurants in Brazil and its shareholders raised 2.2 billion reais ($658 million) in an initial public offering on Thursday, topping the busiest week for capital markets in the country in more than four years.
BK Brasil Operação e Assessoria a Restaurantes SA, which operates around 630 Burger King restaurants in the country, priced its initial public offering at 18 reais, at the top of the suggested price range, according with a securities filing late on Thursday.
The IPO was around four-times oversubscribed, according to three people with knowledge of the matter, allowing banks managing the issue to increase the original size of the offering, 106.5 million shares, by 15 percent, to 122.5 million, exercising the so-called "green shoe" provision, or supplementary allotment of shares.
It was not clear whether there would be sale of any portion of the additional allotment of shares, equivalent to 20 percent of the original offering size.
The restaurant chain will receive around 886 million reais from the sale of new shares and plans to use the proceeds to fund expansion.
Shareholders selling part of their stakes, including controlling group Vinci Partners Investimentos Ltda, will receive around 1.3 billion reais, according to the filing.
One of the people with knowledge of the matter said investors bought into a chain that has delivered consistent growth rates even during Brazil's harshest recession in decades.
This week was the busiest for capital markets in Brazil in more than four years, with IPOs raising $2.1 billion. New listings in Brazil this year have reached $5.5 billion, more than the three previous years combined.
A slow economic recovery from the country's harshest recession on record, lower interest rates and a rise in stock markets fueled the revival of Brazilian capital markets this year.
On Wednesday, state-controlled oil company Petróleo Brasileiro SA raised 5 billion reais selling a 27.85 percent stake in its fuel distribution subsidiary Petrobras Distribuidora IPO.
Pricing for Petrobras Distribuidora was at the bottom of the range, as investors worried about future political and macroeconomic risks for a state-controlled company one year before the 2018 presidential elections in Brazil. Shares will debut in Sao Paulo on Friday.
On Thursday, shareholders in utility Neoenergia SA decided to postpone its IPO as its shareholders refused to lower the suggested price range for the shares.
On Monday, a secondary offering of water and sanitation utility Companhia de Saneamento do Paraná raised $302 million for its shareholders. ($1 = 3.3418 reais) (Additional reporting by Ana Mano; Editing by James Dalgleish and Sam Holmes)