Visa-Backed Conductor Prepares for US IPO: Reuters

Visa Inc V backed Brazilian payments firm Conductor has hired banks for a U.S. initial public offering that could occur as early as 2021, Reuters reports.
Capital firm Riverwood Capital is also an essential sponsor of the firm.
Conductor's tools assist retailers, banks, and financial startups offer credit cards and payment wallets to their clients.
It powers over 85 million accounts and processes over $20 billion in payment volume across Latin America.
The investment banking units of Goldman Sachs, JPMorgan, Bank of America, and Credit Suisse will manage the IPO, the report added.
The share offering will mainly be new stock as the company plans to raise proceeds to expand into new countries, launch products, and engage in M&A.
Conductor raised roughly $170 million in two tranches in 2020 with Singapore's Temasek Holdings, Viking Global Investors, and Sunley House, an affiliate of Advent International, aiming to enter new countries.
It aims to tap Latin America's population without a bank account. Conductor started to expand across Latin America to Mexico, Argentina, Peru, Equador, and Colombia in 2020.
Price action: V shares traded lower by 0.41% at $249.24 on the last check Tuesday.