UPDATE 2-Brazilian fintech TradersClub valued at $522 mln in IPO
(Updates with official sourcing and figures)
SAO PAULO, July 26 (Reuters) – Brazilian financial start-up TradersClub on Monday priced its initial public offering at 9.50 reais per share, according to a filing with the country’s securities regulator, reaching a valuation of 2.7 billion reais ($521.58 million).
The company raised 606.9 million reais in the IPO, the filing said. A source familiar with matter told Reuters earlier in the day that the company would raise 712.5 million reais, but the final fundraising was lower as one of two overallotments went unsold.
Also known as TC, the company offers services such as news, research and investment chats to 470,000 investors through its app.
Shares are to begin trading on São Paulo Stock exchange on Wednesday. ($1 = 5.1766 reais) (Reporting by Paula Laier; writing by Carolina Mandl; editing by Chris Reese and Leslie Adler)