Davis Polk instructed on $1 bn offering by PagSeguro

Davis Polk advised the global coordinators and bookrunners in the public offering by PagSeguro, the Brazilian payment provider. 

PagSeguro is a Brazilian digital payment processing business which focuses primarily on smaller merchants. The company was founded in 2006 and it remains controlled by Universo Online (UOL), one of the largest and most visited web portals in Brazil. PagSeguro started trading on the New York Stock Exchange in January under the symbol PAGS.

The public offering consisted of an issuance of 37,950,000 Class A common shares of PagSeguro at a price share of $29.25 (including the full exercise of the underwriters’ overallotment option). The offering raised gross proceeds of $1.1 billion. 

The Davis Polk team included lawyers in the São Paulo and New York offices. Partners Manuel Garciadiaz and William A. Curran had lead roles.