Brazil’s TradersClub shares rose 32.6% in 1st session on São Paulo’s B3 Stock Exchange
RIO DE JANEIRO, BRAZIL – In total, the social platform for investors raised R$606.9 million (about US$117 million), with the securities priced at R$9.50, close to the lower limit of the R$9 to R$11.25 range estimated for the operation.
In the offering, coordinated by BTG Pactual (BPAC11) and Banco Modal, 63,888,889 million shares were sold – basic offering and additional shares. The additional lot was not taken up.
Proceeds from the offering will be used for acquisitions to expand TC’s ecosystem and for investments in the development and improvement of the platform and marketing.
Founded in 2016, TC, formerly known as TradersClub, offers investment news, research, and chats. The app has 470,000 users.
In 2020, the platform posted net revenues of 40 million reais, Ebitda of 18.8 million, and net income of 13 million. In the first four months of 2021, revenues amounted to 21 million reais, with an Ebitda of 663 thousand and a loss of 26 thousand reais.
The user base reached 75 thousand paying users on April 30.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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