Harneys advises StoneCo Ltd. on $1.4 billion IPO

Harneys advised StoneCo as Cayman Islands counsel on its $1.4 billion initial public offering of 58,333,333 class A shares, which included the full exercise of the underwriter’s option to purchase additional shares, as well as the $100 million private placement of 4,166,666 shares to Ant Financial. The class A shares are listed on the Nasdaq Global Select Market under the symbol “STNE.”

StoneCo is a leading provider of financial technology solutions that empower merchants and integrated partners to conduct electronic commerce seamlessly across in-store, online, and mobile channels in Brazil. Marco Martin, who led the Harneys team, said the firm had worked with StoneCo, previously DLP, since the company’s early days.

“This is an exciting evolution for the company,” he said.

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