February 6, 2017 / 9:54 PM / 6 months ago

UPDATE 1-Movida prices IPO at low end in sign of buyer's market

(Adds price details, background on IPO market)

By Guillermo Parra-Bernal

SAO PAULO, Feb 6 (Reuters) - Brazilian car rental company Movida Participações SA's initial public offering (IPO) was priced on Monday at the bottom of a suggested price range, a sign of a buyers' market for a string of new issues in waiting.

According to information on the website of securities industry regulator CVM, Movida raised about 645 million reais ($207 million) in the first IPO of the year, priced at 7.50 reais a share. It was not immediately clear if the amount reported included additional and supplementary stock allotments.

According to a source who requested anonymity because details of the deal have not been announced yet, a member of the family controlling JSL SA, which controls Movida, placed a bid equal to 15 percent of the IPO to help close the order book. Reuters reported on Friday that Movida had lowered the floor of its price range to salvage the deal.

Movida's rival, Unidas SA, is also planning an IPO this week and toll road operator CCR SA is planning a follow-on share offering to raise up to 4.025 billion reais.

If successful, those offerings could open the door to a long-awaited listings from companies including airlines Azul Linhas Aereas Brasileiras SA and the Brazilian division of French retailer Carrefour SA. ($1 = 3.11 reais) (Reporting by Guillermo Parra-Bernal; Additional reporting by Aluisio Alves; Writing by Brad Haynes; Editing by Alan Crosby)

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