Chinese Ant Group Plans to Aquire a Total of 5% Stake in Brazilian Dotz
Chinese Ant Group plans to acquire a 5% stake in Brazilian loyalty points platform Dotz. Dotz and Ant signed a commercial cooperation agreement at the same time, such as exploring new opportunities for digital financial services in Brazil. Dotz said the transaction will depend on the completion of the IPO.
According to the terms of the transaction, Ant Group will appoint a senior to the Dotz board of directors and appoint the co-head of the company’s strategy committee.
Dotz has just launched an IPO of approximately 815 million reais and plans to start trading on the Sao Paulo Stock Exchange on May 13. The price range of Dotz per share ranges from 16.2 to 21.4 reals. If the IPO price is at the top of the range, then Dotz’s valuation may be as high as 3 billion reais.
Within 24 months after the completion of Dotz’s IPO, Ant Group also has the option to purchase an additional 10% of the company’s equity.
Dotz was founded nearly 20 years ago and has 20 million active users. In addition to having a loyalty platform, Dotz is also a market and financial startup. Return to Sohu to see more