By Paula Arend Laier and Tatiana Bautzer
SAO PAULO (Reuters) – The social platform for investors Traders Club will price its initial public offering (IPO) on July 26, in an operation that could move up to 843.75 million reais, according to a preliminary prospectus of the transaction sent to the Brazilian Securities and Exchange Commission (CVM) at the end of Tuesday.
The offer includes the primary distribution of up to 75 million shares, including additional and supplementary lots, with an estimated price between 9 and 11.25 reais each, which can value the platform at 2.98 billion reais.
The Traders Club estimates that 28.2% of the company’s common shares will be in circulation after the IPO, which has BTG Pactual and Banco Modal as coordinators.
The proceeds from the offering will be used for strategic acquisitions that enable the enhancement of the company’s ecosystem and investments in development and enhancement of the TC platform and in marketing.
According to a knowledgeable source, in a preliminary survey before the publication of the most recent prospectus (which is known as ‘pilot fishing’), the book was subscribed 1.5 times.
Founded in 2016, TC, as it is also known, offers services such as investment news, research and chats. It has a base of 450,000 users on its app.
In 2020, the platform had a net revenue of 40 million reais, with an Ebitda of 18.8 million and a net profit of 13 million. In the first three months of 2021, revenue totaled 21 million reais, with an Ebitda of 663 thousand and a loss of 26 thousand reais.
The user base reached 75,000 paying users on April 30th.
The start of trading of shares in the Novo Mercado segment of B3 is scheduled for July 28, under the code “TRAD3”.
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