StoneCo’s second follow-on offering could move $738M

LatAm ListStoneCo, a Brazilian payments system that is listed on the NASDAQ, recently announced its second follow-on offering of 17,950 million class A common shares at $41.11. According to Valor, this transaction could move about $738M. StoneCo completed its IPO at the end of 2018, raising over $1.5B from giants like Ant Financial and Berkshire Hathaway.

An additional 2,692 million shares may also be put up for sale in this follow-on. The process is being overseen by Goldman Sachs, JP Morgan, Morgan Stanley, and Citigroup. More than 20 shareholders will reduce their position in the company, including its founders Andre Street and Eduardo Cunha Monnerat Solon de Pontes.

Stone also announced investments in two software companies,VHSYS and Tablet Cloud, which will bring StoneCo 18 million additional customers.

Read more on LAVCA.

Learn more about StoneCo:

Brazilian fintech StoneCo raises US$1.5B in IPO

Update: StoneCo valuation hits US$9B after IPO

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