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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank-backed VTEX eyes over $3 bln valuation in U.S. IPO

07/12/2021 | 08:28am EDT

July 12 (Reuters) - Brazil's VTEX, a digital commerce platform backed by SoftBank Group Corp, said on Monday it was targeting a valuation of up to $3.2 billion in its U.S. initial public offering (IPO).

The company's offering would consist of 19 million Class A common shares priced between $15 and $17 each. At the top end of the range, the IPO would fetch $323 million.

About 5.1 million of those shares are being offered by the selling shareholders, the proceeds of which will not go to the company, VTEX said.

Planning to list on the New York Stock Exchange, VTEX is the latest highly valued startup from Latin America looking to cash in on a record run in U.S. capital markets.

Brazilian fintech Nubank, payments company Ebanx and General Atlantic-backed Hotmart are also preparing for U.S. listings in the coming months.

VTEX started its operations in Brazil in 2000, set up its first overseas office in 2013 and expanded into the United States in 2017. Its platform allows customers to execute their commerce strategy, including building online stores and managing orders.

The company has customers in over 32 countries, including Japan's Sony Corp, Nestle and McDonald's Corp .

It was valued at $1.7 billion after a funding round in September and also counts Tiger Global, Lone Pine Capital and Constellation among its investors. (Reporting by Niket Nishant in Bengaluru; Editing by Aditya Soni)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -0.07% 6.1966 Delayed Quote.-2.79%
NESTLÉ S.A. 0.12% 114.38 Delayed Quote.9.57%
SOFTBANK GROUP CORP. 1.82% 6661 End-of-day quote.-17.34%
SONY GROUP CORPORATION 0.37% 12315 End-of-day quote.19.74%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 54 942 M 54 942 M
Net income 2022 1 310 B 11 914 M 11 914 M
Net Debt 2022 14 983 B 136 B 136 B
P/E ratio 2022 9,15x
Yield 2022 0,66%
Capitalization 11 411 B 104 B 104 B
EV / Sales 2022 4,37x
EV / Sales 2023 4,14x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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TrendsNeutralBearishBearish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 15
Last Close Price 6 661,00 JPY
Average target price 10 507,87 JPY
Spread / Average Target 57,8%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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