Brazil’s VTEX raises US$361 million in New York Stock Exchange IPO

The successful offering marks the culmination of the e-commerce software platform founded in Rio de Janeiro; the share price stood above the indicative range.

RIO DE JANEIRO, BRAZIL - E-commerce software platform VTEX and its investors raised US$361 million in an initial public offering (IPO) on the New York Stock Exchange. Demand exceeded supply, which led shares to rise above the indicative price range.

Shares should start being traded this Wednesday, July 21.

The company founded in Rio de Janeiro and some of its investors sold 19 million shares at US$19 each, above the US$15 to US$17 range in the offering prospectus, according to a statement.

The IPO values the company, whose investors include a fund from SoftBank, at about . . .

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