Netshoes, a leading sports and lifestyle online retailer in Latin America, priced its initial public offering (IPO) of 8.25 million shares at an offering price of $18.00, representing an aggregate offering of $148.5 million.
The common shares are expected to begin trading on the New York Stock Exchange on April 12 under the symbol “NETS.” The offering is expected to close on April 18, 2017, subject to customary closing conditions.
In addition, Netshoes has granted the underwriters a 30-day option to purchase up to 1,237,500 additional common shares at the IPO price less the underwriting discount. Goldman, Sachs & Co., J.P. Morgan Securities LLC, Banco Bradesco BBI S.A., Allen & Company LLC and Jefferies LLC served as joint book-running managers for the offering.
Netshoes is one of the largest online retailers in the region, with operations in Brazil, Argentina, and Mexico. Through the websites Netshoes and Zattini, as well as through partner-branded store sites it manages, Netshoes offers customers a wide selection of products and services for sports, fashion and beauty.
Photo courtesy Netshoes
