- Preparations for Mobly’s IPO started five months ago;
- The offering, which has already raised BRL 812 million, may reach BRL 933 million.
Brazil’s Mobly, a retailer in the furniture and decoration sector, founded in 2011 by Marcelo Marques, Mario Fernandes, and Victor Noda, celebrated on Friday its IPO on Brazilian stock exchange B3.
Broadcast live and taking into account the social distance measures imposed by the pandemic, the event celebrated Mobly’s IPO, which became the 169th company listed on B3’s listing segment with the highest standards of corporate governance. The event was attended by the president of B3, Gilson Finkelsztain, and the founders of the company.
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Preparations for Mobly’s IPO began five months ago. The company intends to use the proceeds to strengthen working capital and financial structure, investment in marketing and advertising, and investment in capital goods, including the expansion of new brick and mortar stores, distribution centers, and technology development for internal information.
The IPO has Morgan Stanley, Bradesco BBI, Itaú BBA, and Goldman Sachs as coordinators. The offer, which has already raised BRL 812 million, may reach BRL 933 million in the event of the full placement of the supplementary lot.
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“We have taken a big step towards strengthening our business. We will continue to work hard, following our strategy of bringing even more relevant results. And for that, at this moment, working with the market is crucial to achieving these objectives ”, says Marcelo Marques, CFO and Investor Relations Officer at Mobly, in a press statement.
“If before the Brazilian stock market was known for its concentration on more ‘traditional’ sectors, now this reality is changing. In 2020, we saw companies coming from several new sectors to B3, such as Mobly. With the IPO, Mobly expands the offer of retailers focused on e-commerce that is reaching the capital market,” highlighted Gilson Finkelsztain, President of B3 during the IPO event.
