Pague Menos sets IPO target price

Pague Menos sets IPO target price

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

Brazilian drugstore chain Pague Menos could raise up to BRL1.27 billion ($246 million) from its initial public offering (IPO) after setting the target price range from BRL10.22 to BRL12.54 per share. Pague Menos plans to sell just under 87.3 million shares, but it could increase the size of the deal by 15%, or 13.2 million shares, to satisfy demand, according to a preliminary prospectus filed with the securities regulator CVM on Monday. Itaú BBA is the lead coordinator and working alongside Cred

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