SAO PAULO Feb 6 Brazilian car rental company
Movida Participações SA's initial public offering
(IPO) was priced on Monday at 7.50 reais a share, at the bottom
of a suggested price range.
According to information on the website of securities
industry regulator CVM, Movida raised about 645 million reais
($207 million) in the offering. It was not possible to establish
immediately whether the amount reported included the sale of
additional and supplementary stock allotments.
According to a source, who requested anonymity because
details of the deal have not been announced, a member of the
family controlling JSL SA, which controls Movida,
placed a bid equal to 15 percent of the IPO to help to close the
order book. Reuters reported on Friday that Movida had lowered
the floor of its price range to salvage the deal.
($1 = 3.11 reais)
(Reporting by Guillermo Parra-Bernal and Aluisio Alves)