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Brazil’s VTEX digital commerce platform eyes over US$3 billion valuation in U.S. IPO

RIO DE JANEIRO, BRAZIL - Brazil’s VTEX, a digital commerce platform backed by SoftBank Group Corp, said on Monday (12) it was targeting a valuation of up to US$3.2 billion in its U.S. initial public offering (IPO).

The company’s offering would consist of 19 million Class A common shares priced between US$15 and US$17 each. At the top end of the range, the IPO would fetch US$3.23 billion.

About 5.1 million of those shares are being offered by the selling shareholders, the proceeds of which will not go to the company . . .

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