Vinci shares fall on first day

Vinci shares fall on first day

Corporate & Sovereign Strategy Capital Markets Equity IPO Brazil Rule 144a/ RegS United States Latin America

Shares in Vinci Partners sank 6.11% to close at $16.90 on Wednesday, the first day of trading after the Brazilian investment firm priced an initial public offering (IPO) on the Nasdaq exchange in New York. Vinci moved at least $250 million in its IPO, listing 13.9 million common shares for $18 each, the high end of the target price range of $16 to $18 per share. It also gave the underwriters the option to buy up to another 2.08 million shares within 30 days, the Rio de Janeiro-based asset manage

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