September 24, 2020 |
Brazilian payments processing company plans to issue Brazilian depositary receipts (BDRs) as part of its offer to buy software maker Linx, according to a statement on Tuesday evening.
Selling BDRs on the B3 stock exchange in São Paulo will allow shareholders in Linx to receive a stake in StoneCo through the transaction. StoneCo has offered to buy Linx for BRL6.28 billion ($1.12 billion) with 90% in cash and 10% in shares.
StoneCo, which lists its shares on the Nasdaq exchange in New York, earned
Brazilian payments processing company could use a share offering to cover 10% of the $1.12 bln purchase price