March 6, 2020 / 12:15 AM / a month ago

Brazil vehicle rental firm Vamos to raise up to 1.5 bln reais in IPO

SAO PAULO, March 5 (Reuters) - Commercial vehicle rental firm Vamos Locacao de Caminhoes Maquinas e Equipamentos SA aims to raise up to 1.5 billion reais ($325.57 million) in its initial public offering, it said in securities filings on Thursday.

The company plans to price its offer on March 25 within the estimated range of 15 reais to 20.2 reais per share.

The primary offering will involve 36.7 million shares with a secondary offering of 19.4 million shares, with an option allowing for the possibility of more shares to be sold based on demand. ($1 = 4.6073 reais) (Reporting by Aluisio Alves; Writing by Jake Spring; Editing by Cynthia Osterman)

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