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Deal Date: 01-02-2018 Practice Area: Equity Capital Markets
Deal Title: PagSeguro Digital New York Stock Exchange IPO Industry: Software & Computer Services
Shearman and Sterling acted as counsel to PagSeguro Digital Ltd. in its initial public offering of 121,193,388 Class A common shares, listed on the New York Stock Exchange. PagSeguro Digital Ltd. controls PagSeguro Internet S.A., a provider of financial technology solutions in Brazil focused primarily on micro-merchants, small companies and medium-sized companies. The offering was the largest IPO of a Brazilian business since 2013 and the largest IPO on the NYSE since Snap, Inc. in March 2017. The offering closed on January 26, 2018 and generated aggregate gross proceeds of approximately USD2.6 billion, consisting of a primary offering of USD1.1 billion by PagSeguro Digital Ltd. and a secondary offering of USD1.5 billion by selling shareholder Universo Online S.A., or UOL, Brazil's largest internet content, digital products and services company. The deal priced at USD21.50, above the initial price range of USD17.50 to USD20.50, and the underwriters' overallotment option was exercised in full at closing. Goldman Sachs and Co. LLC and Morgan Stanley acted as global coordinators of the offering, joined by underwriters BofA Merrill Lynch, Banco Bradesco BBI, Credit Suisse, Deutsche Bank Securities, Itau BBA and JP Morgan.
Financial Center: Sao Paulo Value: 1000.01-5000.00
Advised Party: Issuer Law Firm
Issuer Jurisdiction- Brazil Listing Jurisdiction- United States
Classification: Initial Public Offerings NYSE
Lawyer Robert Ellison