April 3, 2019 |
Shareholders in Brazil's Stone Pagamento could earn more than $870m from a follow-on offering of up to 20.7m shares, based on the closing share price on Tuesday.
The São Paulo-based credit card payments company said "certain selling shareholders" will offer at least 18m shares and also set aside another 2.69m shares for the underwriters to buy. The underwriters are Goldman Sachs, JPMorgan, Morgan Stanley and Citi, Stone said in a securities filing.
"Stone will not receive any proceeds from the
Shareholders in the Brazilian credit card payments company could earn $870m from a follow-on offering