Brazilian technology company Allied, backed by private equity firm Advent International, launched on Thursday an initial public offering of up to 517.5 million reais ($92.1 million), according to a Thursday filing. Allied will use the proceeds to open new stores, boost its financing business, invest in technology platforms and acquire companies.

The company plans to price its shares between 20 reais and 26 reais each. The final price will be set on April 7.

BTG Pactual, Bradesco BBI, Itau BBA and XP Inc will manage the IPO. Acquired by Advent in 2014, Allied provides distribution, retail sales and services of technology products.


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Source: Reuters

Reporting by Carolina Mandl. Editing by Mark Potter