StoneCo IPO attracts USD 100 mln from Ant Financial.

Oct 23, 2018 (China Knowledge) - Brazilian electronic payments processor StoneCo Ltd has announced that Alibaba's Ant Financial has committed to invest USD 100 million in the company's initial public offering (IPO) which seeks to raise up to USD 1.1 billion.

The company plans to sell up to 47.73 million shares at a price range of USD 21 to USD 23 per share. At this price range, the company will be valued at about USD 6.17 billion.

StoneCo has seen high investor demand for its IPO and has even attracted big names such as Warren Buffet's Berkshire Hathaway which has driven demand higher. The high demand has led to the company bringing forward its pricing to Wednesday instead of the initially planned Thursday.

Goldman Sachs, JP Morgan Chase and Co and Citigroup who are coordinating the IPO are considering to raise its IPO price to above the proposed USD 21 to USD 23 based on the demand.

Berkshire Hathaway and some of StoneCo's current investors may purchase half of the shares StoneCo plans to offer according to an earlier securities filing.

StoneCo has much potential for growth in the...