Brazilian technology company Allied, backed by private equity firm Advent International, launched on Thursday an initial public offering of up to $92.1 million, according to a Thursday filing.
Both Allied and its shareholders intend to sell shares in the offering.
Allied will use the proceeds to open new stores, boost its financing business, invest in technology platforms and acquire companies.
The company plans to price its shares between 20 reais and 26 reais each. The final price will be set on April 7.
Acquired by Advent in 2014, Allied provides distribution, retail sales and services of technology products. Advent International is an American global private equity firm focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, growth and strategic restructuring in five core sectors.
BTG Pactual, Bradesco BBI, Itau BBA and XP Inc will manage the IPO.
Source: Reuters
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