Brazilian tech firm Allied preps for a BRL 500 million IPO

The retail and distribution company was acquired by the US-based private equity firm Advent International in 2014

B3, the Brazilian Stock Exchange — Brazil's stock exchange B3, São Paulo. Photo: Rafa Press/Shutterstock

25.Mar.2021 11:55 BRT
UPDATED 11:57 BRT

Advent International’s Allied filed for an IPO of up to BRL 517.5 million;
Acquired by the American PE firm Advent in 2014, Allied offers distribution, retail sales and technology product services.

Brazilian retail and distribution company Allied, owned by the US-based private equity firm Advent International filed on Thursday for an initial public offering of up to BRL 517.5 million.

According to a document to the Securities and Exchange Commission (CVM, in the Portuguese acronym), both Allied and its shareholders intend to sell shares in the offer.

Allied will use the resources to open new stores, boost its financing businesses, invest in technology platforms and acquire companies.

The company plans to price its shares between BRL 20 and BRL 26 each. The final price will be set on April 7.

BTG Pactual, Bradesco, Itaú and XP are the lead underwriters for the offering.

Acquired by Advent in 2014, Allied offers distribution, retail sales and technology product services.

Translated by LABS