Rappi needs to show profit before launching IPO

Rappi needs to show profit before launching IPO

IPO Equity Corporate & Sovereign Strategy Capital Markets Colombia

Rappi, a Colombian mobile delivery app, has signaled plans to sells shares on the Nasdaq stock market in 2021, but it needs to show it can turn a profit before it goes public, LatinFinance has heard. "Their numbers are not very sexy. When you ask them about [the numbers], they say they still have many challenges and are consolidating growth," said Carlos Rodríguez, head of equity research at the Colombian brokerage firm Ultraserfinco. The uncertainty around Rappi's growth plans could derail a

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