(Adds Stone’s abeyant bazaar cap and Buffett’s advance in Synchrony Financial)
By Carolina Mandl
SAO PAULO, Oct 16 (Reuters) – Brazilian agenda processor Stone Co Ltd filed on Tuesday for an antecedent accessible alms on Nasdaq that may accession up to $1.1 billion and allurement Warren Buffett’s Berkshire Hathaway Inc as a shareholder, according to a balance filing.
Berkshire Hathaway and some of Stone’s accepted shareholders may access up to about bisected of the 47,727,273 shares offered in the IPO, according to the filing.
The aggregation set the IPO amount ambit at amid $21 and $23 per allotment and could ability a bazaar assets of up to $6.2 billion on its admission on Nasdaq.
Other Stone shareholders accommodate Brazilian advance close 3G Capital Inc’s founders, Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira. 3G Capital and Berkshire Hathaway already allotment ascendancy of Kraft Heinz Co.
Individually, Berkshire Hathaway may buy up to 13,712,960 shares, accretion Buffett’s portfolio in acquittal companies, which already includes shares in American Express Co. In August, Buffett additionally appear a pale in the acclaim agenda issuer Synchrony Financial.
Madrone Capital Partners, a U.S.-based advance close that manages allotment of the affluence of the Walton family, which founded Walmart Inc, and added accepted shareholders may additionally buy addition 9.5 actor shares in the offering, according to the filing.
The captivation of deep-pocketed all-embracing investors underscores the abeyant advance of cyberbanking payments in a country area alone two-thirds of families’ burning is paid in cash. In 2017, agenda payments totaled 1.36 abundance reais ($367.24 billion), according to the country’s agenda industry group, Abecs.
Both Stone and some of its shareholders, including founders André Street and Eduardo Pontes, will advertise a baby allocation of their shares in the offering.
The IPO will accession $950 actor for Stone to access companies or advance in commutual articles and technologies, while shareholders will accept the actual gain in the alleged accessory allocation of the offering.
Stone has 200,600 alive audience and acquaint a net assets of 87.7 actor reais ($23.68 million) and absolute revenues of 636 actor reais ($171.74 million) in the aboriginal bisected of 2018.
Founded in 2012, Stone has been growing in a already duopolic bazaar amid Cielo SA and its battling Rede, endemic by Itaú Unibanco Holding SA. After adjustment changes, though, both companies absent absolute rights to action Visa and MasterCard affairs in Brazil and began accident bazaar allotment to new competitors.
PagSe Digital Ltda, which listed its shares in the New York Stock Exchange in January, is addition newcomer to the Brazilian agenda processing market.
Stone’s IPO will be managed by Goldman Sachs, J.P. Morgan, Citigroup, Itaú BBA, Acclaim Suisse, Morgan Stanley, Bank of America Merrill Lynch and Banco BTG Pactual SA. ($1 = 3.7033 reais) (Reporting by Carolina Mandl; alteration by Jonathan Oatis)
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