Business

Brazilian Méliuz IPO comes out at BRL 10 per share, the lowest price-range expected

It was the lowest price-range expected by the coordinators, which went up to BRL 12.50 per share

11/10/2010. REUTERS/Sergio Moraes
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  • The transaction moved BRL 367 million with the sale of new shares;
  • Cash will go to the Minas Gerais-based company to expand its marketplace.

Brazilian online coupon and cash-back provider Méliuz‘s IPO came to BRL 10 each, the lowest price-range expected by the coordinators, which went up to BRL 12.50 per share.

READ ALSO: Brazilian payments and software company, Conductor raises $150 million and targets IPO in the U.S.

According to information from the Brazilian Securities and Exchange Commission (CVM, in Portuguese) on Tuesday, the transaction moved BRL 367 million with the sale of new shares, which will go to the cash of the company based in Minas Gerais to expand its marketplace, financial services and conduct acquisitions.

READ ALSO: Brazil’s Caixa mulls U.S. IPO of its digital bank

It was not immediately clear whether the funds Monashees, Lumia Capital, and Endeavor Catalyst, which would-be sellers in the secondary offer, gave up on negotiating their shares in the IPO.

(Translated by LABS)

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