Payment technology provider StoneCo will raise about $1.1bn if it floats at the top of its range, while Ant Financial is investing $100m through a private placement.
Ant Financial, the financial services affiliate of e-commerce group Alibaba, has agreed to invest $100m in Brazil-based financial technology provider Stone Co alongside an initial public offering that could reach $1.1bn.
StoneCo has set a range of $21 to $23 and will issue 45.8 million class A common shares on the Nasdaq Global Select Market while its investors will divest a further 1.9 million shares.
Ant Financial will provide the extra funding in the form of a private placement, according…
