NexOptic Technology Corp (TSXV: NXO)
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Chinese e-commerce giant Alibaba’s payment affiliate Ant Financial has agreed to buy US$100 million shares of Brazilian card processor StoneCo Ltd in its initial public offering (IPO), according to a securities filing of StoneCo Ltd.
Ant Financial is the latest high-profile backer to show interest in StoneCo’s IPO on Nasdaq that may raise up to US$1.1 billion with the price of each share ranging from US$21 to US$23.
Warren Buffett’s Berkshire Hathaway Inc. also serves as a shareholder and has indicated interest in buying up to 14.2 million Class A shares.
In addition, Madrone Capital Partners backed by Rob Walton, heirs to the Walmart Inc., is also looking to increase stake in the firm and could add 2.4 million shares.
Berkshire Hathaway and some of StoneCo’s current shareholders, including Madrone Capital Partners, could acquire up to nearly half of the 47,727,273 shares offered in the IPO, according to an earlier securities filing.
The involvement of deep-pocketed international investors underscores the potential growth of electronic payments in a country where only two-thirds of families’ consumption is paid in cash.
Founded in 2012, StoneCo Ltd is a provider of financial technology solutions to conduct electronic commerce across in-store, online and mobile channels in Brazil.
Goldman Sachs, JPMorgan Chase & Co and Citigroup are the global coordinators of the offering. While, Itaú BBA, Credit Suisse, Morgan Stanley, BofA Merrill Lynch and BTG Pactual are the bookrunners of the IPO.
Source: China Money Network
