Petz's IPO moves R$ 3 billion

The pet products chain Petz, controlled by private equity firm Warburg Pincus, moved R$ 3.03 billion in its initial share offering (IPO) on Wednesday (9).
The transaction was priced at R$ 13.75 per share, within the estimated price range for the IPO was between R$ 12.25 and R$ 15.25.
Petz plans to use the resources of the primary offering to open new stores and veterinary hospitals. Currently the company has 110 stores.
Itaú BBA, Santander Brasil, Bank of America, JPMorgan and BTG Pactual coordinate the offer.
Despite the coronavirus crisis, Petz's sales increased 36.6% in the first half of 2019 to R$ 731.6 million, with the opening of new stores and the increase in online sales.