RIO DE JANEIRO, BRAZIL – On June 28, the Board of Directors of 3tentos agroindustrial (TTEN3) approved a restricted offering of the company’s shares, which may include an additional and supplementary lot of shares, according to a notice to the market.
The restricted offering, i.e., directed only to professional investors (a class that holds at least R$10 (US$2) million in investments) will be divided into a primary offering, with the issuance of 94,117,647 new shares; and a secondary offering, with the initial sale of 15,686,275 shares from selling shareholders.
The indicative price range for 3tentos shares varies between R$11.75 and R$13.75.
Considering the average value of R$12.75 per share, the initial public offering (IPO) may generate R$1.889 billion (US$377 million), with the sum of the IPO’s additional and supplementary lots.
With the conclusion of the book-building process (collection of purchase intentions from investors), share pricing should occur on July 7.
Also according to the restricted offering schedule, 3tentos, which operates in grain management, storage, and production control, should debut on the B3 stock exchange on July 12.
3tentos Agroindustrial is headquartered in Santa Bárbara do Sul – RS, which besides the traditional production of seeds, operates also in grain management, storage and trade, as well as pesticides and fertilizers
The agribusiness company has engaged BTG Pactual as the operation’s lead coordinator, which will also be advised by Bank of America, Citi, Bradesco BBI, UBS, Safra, as well as its subsidiaries abroad.