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)
