SAO PAULO, July 12 (Reuters) - Brazilian online retailer Privalia on Monday divulged the price range for its upcoming initial public offering, with regulatory documents showing the company hopes to raise around 1 billion reais ($193 million).
In a securities filing, Privalia set the range at between 16.30 reais and 18.10 reais. The company is planning to sell 23,235,551 shares in the primary portion of the offering and another 20,348,837 in the secondary portion.
Privalia is backed by Brazilian investment bank Banco BTG Pactual SA, which has pledged to purchase up to 5% of Privalia’s share capital, with the option to purchase another 5% between 18 and 36 months after the IPO.
The IPO is set to be priced on July 20, and shares will begin trading two days later.
Under Privalia’s agreement with BTG, the bank will be entitled to provide Privalia users certain financial products related to banking, payments and insurance.
($1 = 5.17 reais)
Reporting by Alberto Alerigi Jr.; Writing by Gram Slattery; Editing by Chris Reese
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