ismagilov
Colombian online grocery retailer Merqueo (MERQ) has filed for a proposed $14M US initial public offering.
Merqueo didn’t specify in its filing the number or price of the shares to be offered, but indicated in a filing fee schedule that it was looking to raise up to around $14M.
The digital grocery retailer hopes to list its shares on Nasdaq under the symbol MERQ. Aegis Capital is serving as sole bookrunner.
Based in Bogota, Merqueo is a vertically-integrated online grocery retailer with operations in Brazil and Columbia. Customers are able to order supermarket goods and schedule deliveries through the company’s mobile apps.
Merqueo has been operating in the red. For the nine-month period ended Sept. 30, the company posted a net loss of $38M on revenue of $24M.
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Image and article originally from seekingalpha.com. Read the original article here.