SAO PAULO Feb 3 Demand for shares in the
initial public offering (IPO) of Brazilian rental car firm
Movida Participações SA was gaining traction after it
reduced the lower limit in a suggested price range, a source
said on Friday.
According to the source, Movida's controlling shareholder,
JSL SA, has placed a "significant bid" to secure the
IPO's success. Reuters had reported earlier on Friday that
Movida had cut the price floor to 7.50 reais a share from the
original 8.90 reais.
(Reporting by Guillermo Parra-Bernal; Writing by Bruno
Federowski; Editing by Jonathan Oatis)