RIO DE JANEIRO, BRAZIL – Agrogalaxy Participações has confirmed that the initial public offering (IPO) price is R$13.75. With the sale of 25,454,545 common shares, the company raised R$349.99 million (approximately US$67 million). The offering is primary, meaning the funds will go into the company’s treasury and is limited to institutional investors.
The shares’ debut on B3 on July 26 and will trade under the ticker ‘AGXY3’. The price remained at the bottom of the indicative range, which was between R$13.75 and R$16.50.
The company intends to use the net proceeds from the offering for merger and acquisition transactions and promoting organic growth and working capital.
A retail platform with nearly one hundred stores, Agrogalaxy sells agricultural inputs and services to small and mid-sized producers. The company was founded by Aqua Capital, a manager specialized in the world of agribusiness, from the acquisition of regional brands also enters seed production, grain storage, and structuring financing.