- Uruguay’s cross-border payments company DLocal Ltd DLO shares jumped close to 50% in its U.S. initial public offering price (IPO) debut reaching a market capitalization of almost $9 billion.
- Shares opened at $31, compared to the IPO price of $21. DLocal raised around $92.6 million from the sale of 4.4 million shares in its IPO.
- DLocal CEO Sebastián Kanovich intended to utilize the IPO proceeds for product addition and geographical expansion.
- The company’s merchants include Amazon.com Inc AMZN and Microsoft Corp MSFT. DLocal reported revenue of $104 million in 2020, as per Reuters.
- Price action: DLO shares traded higher by 51.86% at $31.89 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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