1 Minute Read by Reuters Staff Reuters, SAO PAULO, July 12 – Privalia, a Brazilian online retailer, revealed the price range for its impending initial public offering on Monday, according to regulatory records. The business expects to generate roughly 1 billion reais ($193 million) in the offering. Privalia specified the price range between 16.30 and 18.10 reais in a securities filing. The company intends to sell 23,235,551 shares in the primary component and another 20,348,837 shares in the secondary phase of the offering. Privalia is funded by Banco BTG Pactual SA, a Brazilian investment bank that has agreed to buy up to 5% of Privalia’s share capital, with the option to buy another 5% between 18 and 36 months after the IPO. On July 20, the IPO will be priced, and shares will begin trading two days later. BTG will be able to provide Privalia users certain financial products linked to banking, payments, and insurance under the terms of the agreement. (1 reais = 5.17 dollars) Alberto Alerigi Jr. contributed reporting, Gram Slattery wrote the story, and Chris Reese edited it./n
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