Linx, a Brazilian provider of POS/ERP connectivity software and payment services, raised $308 million in a global offering of 32.8 million shares/ADSs (30% secondary) at $9.40, or R$36.00, a slight discount to its last close of R$36.35 on Brazil's B3 exchange (LINX3).
The company sold an additional 3.5 million shares on the offering, or 12% more than expected. The global offering consisted of both ADSs (83%) and common shares (17%). At the $9.40/ADS offer price, Linx commands a fully diluted market value of $1.8 billion.
Linx plans to list on the NYSE under the symbol LINX. Goldman Sachs, Morgan Stanley, Jefferies, BofA Merrill Lynch and Itau BBA acted as lead managers on the deal.
