StoneCo IPO prices above the range after oversubscription

StoneCo IPO prices above the range after oversubscription

Capital Markets Equity IPO Brazil

Brazilian credit card processor StoneCo priced its IPO above a suggested range a day earlier than expected after order books were understood to be well subscribed with anchor investments. StoneCo raised about $1.22bn on Wednesday, post market close, after underwriters offered 45.8m primary shares and roughly 4.9m in secondary stock for $24 apiece. Selling shareholders were understood to include the company founders Andre Street and Eduardo Pontes, as well as Madrone Capital Partners, Gavea Inv

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