April 10, 2017 / 8:57 PM / a year ago

CORRECTED-Demand for Brazil's Azul IPO tops 5 times supply -sources

(Corrects headline to show demand topped five times supply, not five times demand)

SAO PAULO, April 10 (Reuters) - Investor demand for shares in Brazilian airline Azul SA’s initial public offering in São Paulo and New York surpassed five times the amount of stock on offer ahead of pricing later on Monday, three people with knowledge of the transaction said.

Hours ahead of pricing, the people said that the IPO could price at 21 reais per preferred Brazilian share and $19.90 per American depositary share, both at the middle of a suggested price range for the transaction. Robust demand for the transaction could lead Azul to offer additional and supplementary allotments, the people said.

Azul could not be immediately reached for comment. (Reporting by Guillermo Parra-Bernal; Editing by Meredith Mazzilli)

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