Tuesday, July 5, 2022
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Traders Club, Brazil’s finance social media platform, to file for IPO

Traders Club Brazils finance social media platform to file for

Sao Paulo: The Traders Club, a Brazilian financial social media platform, is filing an initial public offering to raise about 700 million rupees ($ 132 million) and intend to use the proceeds to expand, two knowledgeable people said.

The company, which provides services such as news, research and investment chat to 450,000 investors, has been asked by the public to disclose its application, which could be filed by Wednesday evening.

The company expects a valuation of approximately $ 3 billion at the floating point, one source added.

Many investors who relied on fixed incomes were tempted to experiment with wholesale and other risky options because of the record low interest rates in Brazil.

According to financial industry group Anbima, the number of Sri Lankan shareholders has doubled to 3.2 million last year.

Traders Club, also known as TC, intends to set these prices in early July and has hired Banco Banco SA to manage the issue.

This offer is intended only for the primary, which means that TC will issue new shares, dilute existing shareholders and use the proceeds for organic expansion and invest in potential acquisitions.

The BTG deal and the Traders Club did not immediately comment.

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