BUZZ-Uruguay's dLocal slips as General Atlantic looks to slice stake

Reuters
Sep 04
BUZZ-Uruguay's dLocal slips as General Atlantic looks to slice stake 

** Shares of Uruguayan fintech dLocal DLO.O fall 4.9% to $13.25 in extended trading

** DLO commences secondary offering of 15 million shares by private equity firm General Atlantic

** J.P.Morgan, Goldman Sachs and Morgan Stanley are global coordinators for the offering

** Stock closed down 1.8%, at $13.93, on Wednesday

** General Atlantic's stake will drop to 29.7% from 38.8%, after the offering

** DLO has 312.5 million outstanding shares as of June 30, according to prospectus

** Four of nine brokerages rate the stock "buy" or higher and five "hold"; with a median PT of $13.55, according to data compiled by LSEG

** As of last close, DLO stock up 30.2% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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