GPS prices IPO near low end of target

GPS prices IPO near low end of target

Corporate & Sovereign Strategy Equity IPO Latin America South America Brazil Capital Markets Rule 400 Commerce Retail shopping

GPS, a logistics and industrial maintenance in Brazil, moved BRL2.49 billion ($455 million) in an initial public offering (IPO) after pricing its shares near the bottom of the target range, according to a securities filing on Friday. GPS got BRL12.00 per share in the IPO after it lowered the target price range to between BRL11.25 to BRL13.00 per share earlier in the week. The previous range was between BRL13 to BRL15.50 per share. Itaú BBA, Goldman Sachs, Bank of America, BTG Pactual, Citi and M

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