Linx Starts Brazilian IPO Year at High End

Linx Starts Brazilian IPO Year at High End

Brazil Equity

Linx has given the Brazilian IPO market the start it wanted this year, pricing a BRL528m ($265m) deal at the top of its range. In a stark contrast to the trend in 2012, the transaction drew 20x demand, according to people familiar with the terms. The provider of software to the retail sector priced 19.6m shares, assuming a 15% greenshoe, at BRL27.00 each, according to the CVM, versus a BRL23.00-BRL27.00 range. The total includes 6.8m secondary shares sold by a private equity fund linked to Itau.

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