The Brazilian payment and commerce services provider floated above its range and raised an extra $100m from Ant Financial through a private placement.
Brazil-based payment processor StoneCo floated yesterday in a $1.22bn initial public offering alongside a $100m private placement by Ant Financial, the financial services affiliate of e-commerce firm Alibaba.
The company issued 45.8 million common class A shares priced at $24.00 each, above the IPO’s $21 to $23 range. Its shareholders sold a further 4.9 million shares, while Berkshire Hathaway and existing backers Madrone Partners and entities advised by T. Rowe Price agreed to jointly buy 25.9 million shares.
Stone…
