May 13, 2020 / 11:13 PM / 16 days ago

Brazilian parking company Allpark raises $59 mln in IPO

SAO PAULO, May 13 (Reuters) - Brazilian parking company Allpark will raise 345 million reais ($59 million) with an initial public offering, according to public records released by Brazil’s industry watchdog CVM.

The company priced the offering at 10.50 reais per share, the bottom of the suggested price range. But two sources with knowledge of the matter said the IPO had enough demand that allowed the company to sell the over allotment. One of the sources said there was demand from foreign investors.

$1 = 5.8852 reais Reporting by Tatiana Bautzer, Carolina Mandl and Aluisio Alves; Editing by Sandra Maler

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