Vivara's 1st lock-up ends tomorrow

This week begins with the end of the first "lock-up", which is the restriction on the sale of shares, from investors individuals who bought roles from vivara jewelry store in its initial stock offering (IPO) in October. This structure was a novelty for a stock offering in the Brazilian market. The idea was that by including this restriction for retail, a large movement of flippers would be avoided, as are called the stock buyers in the IPO who sell the paper early on the premiere, which creates pressure on the price of paper. In Vivara's offer, retail was 13%, with 5% accepting the 45-day lock-up and 3% 120 days. The 45-day-old wins Monday. Shining. Although the role has "suffered" after the debut in B3, the perception of the market is that the lot that will be put up for sale at the end of the lock-up will be well absorbed. This is because the newly disclosed third quarter result was considered positive and, in addition, with the end of the quiet period after the IPO, banks begin to start covering the company. XP and JPMorgan, who were offer coordinators, have already given purchase recommendation, for example. Vivara's stock was just R$ 23.68, slightly below the value of the paper sold in the IPO, at R$ 24.