Traders Club R$528 million IPO
Davis Polk advised the sole bookrunner in connection with the initial public offering by TC Traders Club S.A. of 55,555,556 common shares for an aggregate amount of approximately R$528 million. The common shares trade on the São Paulo Stock Exchange. The securities sold in the international offering were placed under Rule 144A and Regulation S.
Based in Brazil, Traders Club is the largest social platform for individual investors in Latin America, connecting over 470,000 users through its digital platform, which offers social interaction features, including discussion forums and discussion boards for the posting of trading strategies. Through its infotech platform, Traders Club also offers technical and informational features, including market news feeds, real-time market statistics, analytical tools and dedicated educational content to support user discussions, analysis and investment decisions.
The Davis Polk corporate team included Manuel Garciadiaz and Konstantinos Papadopoulos. Ben Levenback provided tax advice. Members of the Davis Polk team are based in the São Paulo and New York offices.