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Locaweb Completes US$308 million Brazilian IPO

February 21, 2020

São Paulo – Paul Hastings LLP, a leading global law firm, represented Itaú BBA, Goldman Sachs, Morgan Stanley and XP Investimentos as placement agents in the initial public offering of Brazilian web services firm Locaweb on the São Paulo Stock Exchange (B3). Locaweb priced its IPO at 17.25 reais per share, at the top of its range, earning approximately 1.33 billion reais (US$308 million) in the combined primary and secondary offerings, including overallotments. It was reported as the largest technology IPO in the history of the B3 exchange. The proceeds from the primary offering will be used by Locaweb to finance future acquisitions and new product launches.

Partners David Flechner and Jon Kellner led the Paul Hastings team, which also included Samantha Glover and Diana Balassiano, with support from partner David Makso and associate Rob Wilson.

Locaweb’s business lines include web hosting, domain registration and SaaS solutions for email, productivity, e-commerce, electronic payments and digital marketing. The company has more than 300,000 customers throughout Latin America.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.