MercadoLibre Sets IPO Terms

MercadoLibre Inc., a Buenos Aires, Argentina-based online trading platform for Latin America, has set its proposed IPO terms to around 16.07 million common shares being offered at between $16 and $18 per share. If the company prices at the high end of its range. MercadoLibre would be valued at around $789 million. It plans to trade on the Nasdaq under ticker symbol MELI, with Merrill Lynch and JPMorgan serving as co-lead underwriters. MercadoLibre raised $54.3 million over two rounds of VC funding in 1999 and 2000, from firms like JPMorgan Partners, Flatiron Partners, Hicks Muse Tate & Furst, Goldman Sachs, Capital Riesgo Internet and GE Capital. Mercadolibre also lists eBay as a significant shareholder, deriving from a strategic partnership signed in 2001.