February 4, 2020 / 11:10 PM / in 2 months

Brazilian web services co Locaweb, shareholders raise $305 mln in IPO -sources

SAO PAULO, Feb 4 (Reuters) - Brazilian web services company Locaweb and its shareholders raised 1.3 billion real ($305.5 million) in its initial public offering, two sources with knowledge of the matter said on Tuesday.

Locaweb priced its shares at 17.25 reais, at the top of the suggested range, the sources added, asking for anonymity to disclose the IPO results ahead of the official announcement. ($1 = 4.2551 reais) (Reporting by Carolina Mandl and Tatiana Bautzer Editing by Chris Reese)

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