Tellerina Comércio de Presentes e Artigos para Decoração SA, doing business as Vivara, priced its IPO of 70,850,000 shares at 24 Brazilian reais per share, according to S&P Global Market Intelligence data.
The São Paulo-based jewelry retailer previously said it intends to price its shares between 21.17 reais and 25.40 reais apiece.
Accorting to an Oct. 9 report by Reuters, Vivara and its shareholders raised 2.3 billion reais from the offering. The amount assumes the full exercise of a 30-day overallotment option of 14.2 million shares, the report said.
Vivara expects the offering to be completed Oct. 24. It plans to use the proceeds from the offering for general corporate purposes.
Banco Itaú BBA SA, Banco J.P. Morgan SA, Bank of America Merrill Lynch Banco Múltiplo SA and XP Investimentos Corretora de Câmbio Títulos e Valores Mobiliários SA acted as book managers for the IPO.
The company recorded revenues of 523.7 million reais and net income of 186 million reais in the first half of 2019, Reuters said.
As of Oct. 9, US$1 was equivalent to 4.10 Brazilian reais.
