Linx, which provides a business management solutions SaaS to Latin American retailers, announced terms for its IPO on Thursday.
The São Paulo, Brazil-based company plans to raise $254 million by offering 29.3 million shares (33% insider), including ADSs, at a price of $8.68, the as-converted last close of its shares listed on the B3 under the symbol "LINX3." At this price, Linx would command a fully diluted market value of $1.6 billion.
Linx was founded in 2004 and booked $183 million in sales for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol LINX. Goldman Sachs, Morgan Stanley, Jefferies, BofA Merrill Lynch and Itau BBA are the joint bookrunners on the deal. It is expected to price during the week of June 24, 2019.
