Sequoia Logística prices IPO below target

Sequoia Logística prices IPO below target

Capital Markets Corporate & Sovereign Strategy IPO Rule 400 Equity Brazil Latin America

Brazil's Sequoia Logística, a logistics company that specializes in e-commerce, moved BRL1 billion ($180 million) in its initial public offering (IPO) on Monday after pricing its shares below the target price range. Sequoia sold the shares for BRL12.40 each, around 13% below the low end of the target range of BRL14.25 to BRL17.75 per share that it set on September 15, according to the prospectus. The São Paulo-based company earned BRL348 million from the sale of 28.1 million new shares, while se

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