GetNinjas, a Brazilian marketplace connecting freelancers and companies, has announced the share price range of its initial public offering on the São Paulo stock exchange B3 from BRL 24.90 to BRL 33.50 ($4.58 to $6.16 US). Taking the average share price, GetNinjas could raise BRL 703.78 million ($129.4 million US) with BRL 469 million ($86.2 million US) from primary shares.
The offering includes 21.4 million shares, with 8 million secondary shares sold by Tiger Global, Monashees, Saint-Gobain, KV GN Holdings, founder Eduardo Orlando L’Hotellier, and entrepreneur Evan Feinberg. BTG Pactual and JPMorgan will lead the offer with UBS Brasil and Bradesco BBI coordinating.
Pricing is scheduled for May 12 and trading is expected to start on May 14 on the Novo Mercado listing segment of B3 under the symbol “NINJ”.
In 2020, GetNinjas reached 2.1 million registered professional users and net operating revenue totaling BRL 41.8 million ($7.7 million US, a nearly 90% increase year-on-year). And in April 2021 GetNinjas entered a partnership with Banco Pan to provide financial services from within the GetNinjas platform. These could include a payment system and financial products such as insurance and pension funds.
Shareholders Tiger Global and Monashees are well-known investors in Latin American marketplaces with companies like Navent and OLX-Brazil owned Grupo Zap in their respective portfolios.