JPMorgan Hired by Brazil’s Vamos for Share Sale

(Bloomberg) -- Vamos SA, a Brazilian truck-rental company controlled by Simpar SA, has hired JPMorgan Chase & Co. for a potential equity offering, according to people with knowledge of the matter. 

The share sale could raise about 1 billion reais ($191 million), said the people, asking not to be identified because the information isn’t public. A representative for Vamos declined to comment, while JPMorgan didn’t respond to a request seeking comment. 

Shares of Vamos are up 144% since the company went public in Sao Paulo in January, pushing its market value to over 14 billion reais. The stock fell as much as 4.3% in Sao Paulo Wednesday. 

Brazilian equity offerings have totaled 126 billion reais year-to-date, up 51% from same period in 2020, according to data compiled by Bloomberg. 

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