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Brazilian property developer Lavvi’s IPO hits below target

Shutterstock.com/Gustavo Frazao

Brazilian real estate developer Lavvi has hired Mayer Brown LLP in New York and Chicago and Tauil & Chequer Advogados in association with Mayer Brown in São Paulo to raise 1 billion reais (US$186 million) in an IPO that priced below the expected range.