Credit: Shutterstock photoNetshoes, a leading sports and lifestyle online retailer in Brazil, announced terms for its IPO on Thursday.
The São Paulo, Brazil-based company plans to raise $157 million by offering 8.3 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Netshoes would command a fully diluted market value of $590 million.
Netshoes was founded in 2000 and booked $534 million in sales for the 12 months ended December 31, 2016. It plans to list on the NYSE under the symbol NETS. Goldman Sachs, J.P. Morgan, Bradesco BBI, Allen & Company and Jefferies are the joint bookrunners on the deal.. It is expected to price during the week of .
The article Buy Brazil for the long run: Netshoes sets terms for $157 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
