Shopify Stock – Brazilian e-commerce platform Infracommerce launches $360 mln IPO
SAO PAULO, April 8 (Reuters) – Brazilian e-commerce platform Infracommerce plans to raise roughly 2 billion reais ($359 million) in an initial public offering set to be priced later this month, it said in a securities filing.
A provider of technology, marketing, logistics and payments for brands interested in selling online, with a similar business model as Canadian peer Shopify Inc – Infracommerce has seen a boom in demand for its services amid COVID-19 lockdowns. It operates in Mexico, Colombia, Chile and Argentina, besides Brazil.
The offering amount considers the mid-point of the price range set for the offering, between 22 reais and 28 reais, and does not include overallotments. The price will be set on April 27.
Infracommerce plans to use the proceeds in acquisitions and to reduce debt. Its shareholders also intend to partially sell their stake in the company.
Founded by German Kai Schoppen in 2012, Infracommerce has among its partners venture capital funds Flybridge Capital Partners and Igah Ventures, formerly e.Bricks Ventures.
$1 = 5.5719 reais Reporting by Carolina Mandl Editing by Chris Reese