- The transaction may also be increased by 17.4 million shares, referring to the sale of the stake of current Bemobi shareholders;
- According to the schedule, the pricing of the offer will take place on February 8.
The app subscription club Bemobi Mobile can handle around BRL 1 billion in its initial public offering (IPO) in Brazil’s B3, based on data from the document published by the company on Monday.
The calculation is based on the midpoint of the indicative range of the offer, of BRL 17.60 and BRL 23.10 per share, and the full sale of the base lot, of 49.7 million papers, composed entirely of one issue primary, that is, whose proceeds from the sale will all go to the company’s cash.
The transaction may also be increased by 17.4 million shares, referring to the sale of a stake in Bemobi’s current shareholders, the so-called secondary lot, which may be sold depending on market demand.
According to the schedule, the price of the offer will take place on February 8, with the premiere of the shares at the Bovespa session on the 10th, traded under the ticker BMOB3.
The company, which has been part of the Norwegian group Otello Corporation since 2015, generates revenue by selling subscriptions to the club, in partnership with telephone operators, developers, and content providers. The company has 200 content partners, including Disney, Rovio, Viacom, and AngryBirds.
At the end of September, Bemobi had 34.6 million subscribers in 37 countries and partnered with 70 mobile operators. In addition to content subscriptions for cell phones, the company sells microfinance and messaging services.
In addition to the headquarters in Rio de Janeiro, Bemobi has offices in Ukraine, Norway and India, and employees in the Philippines, Indonesia, South Africa, Bangladesh, Vietnam, and Pakistan. About 42% of the company’s revenue comes from international operations.
From January to September 2020, Bemobi had net revenue of BRL 178 million, an increase of 10.7% over a year earlier, with an Ebitda margin ranging from 37.9% to 37.7%.
The company stated in the preliminary offer prospectus that it will use the proceeds from the primary offer to pay obligations related to a corporate reorganization, pay dividends due for previous years, and to buy assets.