Neogrid, a company in the supply chain management software segment, announced on Thursday its initial public offering (IPO) on the Brazilian stock exchange (B3). The initial offering was coordinated by Credit Suisse, Citi and UBS BB and the initial suggested share price (ticker NGRD3) was R$ 4.50.
Neogrid raised R$ 486.5 million in this initial offering. The funds raised will be invested in mergers & acquisitions – M&A (80%) and marketing (20%).
“Today, Neogrid begins a new chapter on its journey. With the trust of investors, we reinforce our commitment to increase the power of our solutions and take them to more customers in Brazil and worldwide”, says Eduardo Ragasol, CEO of Neogrid.
Founded in 1999, Neogrid is a company focused on Software as a Service (“SaaS”), data and technology for supply chain solutions. The company’s goal is to connect business partners (manufacturers, distributors, and retailers), integrating its operations through a modular portfolio of efficient, accurate and smart solutions.
“Neogrid has a monetization model focused on predictability of revenue and with high customer retention rates. With the IPO funds, we will accelerate matters such as research & development, mergers, acquisitions, sales, in addition to intensifying our international expansion”, explains Ragasol.
The Neogrid network connects companies and other supply chain players on its platform. Currently, there are more than 37,000 manufacturers, 5,000 distributors and 150 large retail chains (representing thousands of physical stores), distributed throughout Brazil and internationally.
“Neogrid’s network and platform favor the entire supply chain ecosystem. In a world where products have become commodities and prices do not represent a differential anymore, proper inventory management and freeing up working capital become a decisive competitive advantage”, points out Miguel Abuhab, founder of Neogrid.
Neogrid becomes the 163rd company listed in the new market of the stock exchange, a segment with the highest corporate governance standards. The launching ceremony was attended by company executives and board members, in addition to Gilson Finkelsztain, president of B3.
“2020 has been marked by the large volume of IPOs as well as by the influx of companies from different sectors and profiles at B3. Neogrid, which operates in the technology sector – so important and demanded by investors – is one of those examples of new companies arriving to provide increased diversification to the capital market and to Brazilian investors”, comments Finkelsztain.
ABOUT NEOGRID (https://neogrid.com)
A specialist in automated Supply Chain Management (SCM), Neogrid develops solutions with artificial intelligence to synchronize manufacturers, retailers, distributors, and financial institutions to consumer demand. With data from more than 40,000 retailers, 30,000 manufacturers, 5,000 distributors and around 2 million active products in its base, its competitive advantage is increasing product availability and, at the same time, reducing excess inventory levels. With a 20-year experience in the market, it integrates and standardizes information systems, provides daily visibility of inventory and sales at the POS, and aligns operations, distribution, and inventory replenishment – always at the pace of consumers.
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