Movida Participações S.A. (BOVESPA:MOVI3) is seeking an Initial Public Offering (IPO). The company has set the price range for an IPO at between BRL 8.90 and BRL 11.30 per share in a deal that could help the firm as much as BRL 1.184 billion from investors. The company plan to offer a total 78.202 million common shares of Movida on Feb. 6, 2107, when the IPO will take place. If investors tapped so-called supplementary and additional allotments, another 26.6 million shares may be sold.
Movida Participacoes SA is a Brazil-based company primarily engaged in the passenger car rental. The Company, through its subsidiaries Movida Locacao de Veiculos Ltda and Movida Gestao de Frotas SA, provides cars within short and long-time agreements, as well as fleet outsourcing to business customers. The Company's cars are equipped with Global Positioning System (GPS), music player and wireless Internet, as well as with other on demand facilities, such as baby car seat. Its car brand names include Volkswagen, Fiat, Ford, Hyundai, Renault, Jeep, Chevrolet and Mercedes, among others. In addition, the Company sells used cars. The Company operates offices in numerous cities and near airports, in Brazil.
MOVIDA PARTICIPAÇÕES S.A. 
