Good harvest)SOJA3) It premiered this Thursday (29) at B3. At 10:30 AM (Brasilia time), GBSA3 assets rose 40.30% to 13.89 BRL.
The company held an initial public offering with a trading value of R $ 459.9 million, with the share price rising to R $ 9.90 each, on the floor of the indicative range, which rose to R $ 12.60.
The operation was coordinated by XP Investimentos, Principal Coordinator and Stabilization Agent, and BB Investimentos.
Boa Safra is a seed producer operating in the Midwest, Southeast, North and Northeast regions. The company says it provides the highest quality soybean seeds, transporting its products to 70% of commodity producing countries.
In the prospectus, the company claims to be the market leader in soybean seed sales in Brazil. Citing survey data that Boa Safra herself conducted with technology suppliers, she indicated that in 2020 it had a 5.7% market share.
“We believe we have one of the most complete soybean seed portfolios on the Brazilian market, offering treatments with diverse chemical and genetic components adapted to the most diverse regions of the country,” the company says in the document.
Boa Safra also has an initial portfolio of corn kernels and beans, which accounted for 0.41% of the company’s net revenue in 2020, as well as introducing industrial treatments to further protect and revitalize soybean seeds.
In 2020, the company has total revenue of R $ 589 million, with a net profit of R $ 70 million. Profit before interest, tax, depreciation and amortization (EBITDA) is R $ 105 million.
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