July 31, 2020 |
Brazilian fashion retailer Grupo Soma said Thursday that it raised BRL1.82 billion ($354 million) in an initial public offering (IPO) after pricing shares in the middle of the target range.
Soma sold 184 million shares for BRL9.90 per share, including 136 million new shares in a primary offering that moved BRL1.35 billion. A secondary offering with 47.7 million existing shares added BRL472 million to the IPO, Soma said in a securities filing. The new shares start trading on Friday, it added.
Brazilian fashion retailer prices its stock market debut in the middle of the target range