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EURO / BRAZILIAN REAL (EUR/BRL)

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Brazil sporting goods retailer Track & Field raises $94 mln in IPO - filing

10/22/2020 | 08:24pm EST

SAO PAULO, Oct 22 (Reuters) - Brazilian sporting goods retail chain Track & Field raised 523 million reais ($93.52 million) in an initial public offering, according to a securities filing on Thursday.

The company priced its shares at 9.25 reais each, well below the indicative range of 10.65 reais to 14.95 reais.

Track & Field, which has roughly 230 stores, plans to use the proceeds of the primary offering mostly to pay dividends from 2019 fiscal year, in addition to reducing debt and making investments.

($1 = 5.5926 reais) (Reporting by Carolina Mandl; Editing by Christian Schmollinger)


© Reuters 2020
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