July 13, 2020 |
Brazilian fashion group Soma could raise BRL2.02bn ($380.4 million) from its planned initial public offering (IPO) later this month, the company said in a preliminary prospectus.
Grupo Soma set a target price BRL8.80 and BRL11 per share and plans to sell 136.6 million shares with the possibility of increasing the issuance by 35%, the document said. The shares are expected to begin trading on the B3 stock exchange on July 31.
The Rio de Janeiro-based company filed for an IPO on the Novo Mercado s
Brazilian fashion group could raise up to $380.4 million from IPO to help fund expansion.