Grupo Soma sets target price for IPO

Grupo Soma sets target price for IPO

Equity Capital Markets IPO Brazil Latin America Rule 400

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

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