Brazilian net providers co Locaweb information for IPO: submitting

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SAO PAULO (Information) – Brazilian net providers firm Locaweb Serviços de Web SA is making ready an preliminary public providing on the Sao Paulo inventory alternate, in keeping with a submitting on Tuesday.

Each the corporate and its shareholders intend to boost cash within the providing, Locaweb mentioned within the doc. It intends to make use of the proceeds of the providing in acquisitions and new product launches.

Locaweb, with 305,500 shoppers, posted revenues of 314.9 million reais ($75.04 million) and web earnings of 11.1 million reais within the first 9 months of 2019.

The funding banking models of Itau Unibanco Holding SA, Goldman Sachs, Morgan Stanley and XP Inc will handle the IPO.

Reporting by Carolina Mandl; Modifying by Sandra Maler