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Brazil’s Traders Club has enough demand for its IPO

RIO DE JANEIRO, BRAZIL - Traders Club social platform for investors currently has sufficient demand for its initial public offering (IPO), according to two sources close to the operation, which on Friday (23) closes the reservation period.

Traders Club established an estimated share price between R$9 (US$1.73) and R$11.25 for the offering earlier this month, which involves the primary offering of up to 75 million shares, including additional and supplementary lots.

According to one of the sources, there is three times oversupply at the average price of the indicative range, which is R$10.13.

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