DLocal Slips 9% Following Public Offering Of Shares

Shares of Uruguayan payment platform DLocal Ltd (DLO) are down 9 percent on Tuesday's trading after the company announced a proposed public offering of 16 million Class A common shares offered by certain selling shareholders.

Separately, on October 18, DLocal also announced preliminary third-quarter profit between $18 million and $19 million, higher than $8.6 million recorded in the same period last year. This is an increase of 109.3-120.9 percent from the previous year period.

Third-quarter revenues are estimated between $67 million and $68 million, up from $30.9 million in the year-ago quarter.

Currently at $54.75, the stock has traded between $29.57 and $73.43 during the past 52 weeks.

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