Netshoes, a leading sports and lifestyle online retailer in Brazil, announced terms for its IPO on Thursday.
The São Paulo, Brazil-based company plans to raise $157 million by offering 8.3 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Netshoes would command a fully diluted market value of $590 million.
Netshoes was founded in 2000 and booked $534 million in sales for the 12 months ended December 31, 2016. It plans to list on the NYSE under the symbol NETS. Goldman Sachs, J.P. Morgan, Bradesco BBI, Allen & Company and Jefferies are the joint bookrunners on the deal.. It is expected to price during the week of .
