PagSeguro Digital, which provides online and in-store payment services for small businesses in Brazil, announced terms for its IPO on Wednesday.
The São Paulo, Brazil-based company plans to raise $1.7 billion by offering 92.1 million shares (53% insider) at a price range of $17.50 to $20.50. At the midpoint of the proposed range, PagSeguro Digital would command a fully diluted market value of $5.8 billion.
PagSeguro Digital was founded in 2006 and booked $630 million in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol PAGS. Goldman Sachs, Morgan Stanley, BofA Merrill Lynch, Bradesco BBI, Credit Suisse, Deutsche Bank, Itau BBA and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of January 22, 2018.
