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Advent-backed Allied launches IPO in Brazil

SAO PAULO, March 25 (Reuters) - Brazilian technology company Allied, backed by private equity firm Advent International, launched on Thursday an initial public offering of up to 517.5 million reais ($92.1 million), according to a Thursday filing.

Both Allied and its shareholders intend to sell shares in the offering.

Allied will use the proceeds to open new stores, boost its financing business, invest in technology platforms and acquire companies.

The company plans to price its shares between 20 reais and 26 reais each. The final price will be set on April 7.

BTG Pactual, Bradesco BBI, Itau BBA and XP Inc will manage the IPO.

Acquired by Advent in 2014, Allied provides distribution, retail sales and services of technology products.

$1 = 5.6211 reais Reporting by Carolina Mandl. Editing by Mark Potter

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