(Reuters) – Brazil’s VTEX, a digital commerce platform backed by SoftBank Group Corp, mentioned on Monday it was focusing on a valuation of as much as $ 3.2 billion in its preliminary public providing (IPO) in the US .
The corporate’s providing would encompass 19 million Class A typical shares priced between $ 15 and $ 17 every. On the prime quality, the IPO would hit $ 323 million.
About 5.1 million of these shares are supplied by promoting shareholders, the proceeds of which won’t go to the corporate, VTEX mentioned.
Planning to be listed on the New York Inventory Alternate, VTEX is the most recent extremely regarded startup in Latin America seeking to money in on a report run within the US capital markets.
Brazilian fintech Nubank, funds agency Ebanx and Hotmart, backed by Common Atlantic, are additionally gearing as much as be listed in the US within the coming months.
VTEX started operations in Brazil in 2000, opened its first abroad workplace in 2013, and expanded to the US in 2017. Its platform allows shoppers to execute their enterprise technique, together with creation of on-line shops and order administration.
The corporate has prospects in additional than 32 nations, together with Sony Corp in Japan, Nestle, and McDonald’s Corp.
It was valued at $ 1.7 billion after a funding spherical in September and in addition counts Tiger International, Lone Pine Capital and Constellation amongst its traders.
(Reporting by Niket Nishant in Bangalore; Enhancing by Aditya Soni)