Business

With IPO below forecast, GetNinjas will debut on Brazilian stock market on Monday

GetNinjas raised BRL 321.3 million from the sale of new shares. Resources will be used to invest in marketing, staff and improve cash flow

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  • GetNinjas’ stock price operation generated about BRL 555 million;
  • The operation came to BRL 20 per share, below the indicative range defined by coordinators;
  • Company shareholders sold the equivalent of BRL 233 million in the transaction and GetNinjas raised BRL 321.3 million from the sale of new shares;
  • Resources will be used to invest in marketing, staff and improve cash flow.

Brazilian digital platform for freelance professionals GetNinjas will debut on Bovespa next Monday, after having priced its initial IPO in the previous day, in an operation that handled around BRL 555 million.

The operation came to BRL 20 per share, below the indicative range defined by coordinators, which ranged from BRL 24.90 to BRL 33.50 per stock.

Company shareholders, which included Saint-Gobain, Tiger Global, Monashees and KV GN Holdings, in addition to entrepreneurs Evan Feinberg and Eduardo Orlando L’Hotellier, sold the equivalent of BRL 233 million in the transaction.

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In addition, GetNinjas raised BRL 321.3 million from the sale of new shares, resources that will be used to invest in marketing, hire people and improve cash flow.

Verde, Miles Capital and Indie Capital are the offering’s underwriters. The company will be traded on Bovespa under NINJ3.

Translated by LABS

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