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SoftBank-Backed VTEX Hires Banks for U.S. IPO

Brazilian e-commerce software provider VTEX, which is backed by SoftBank Group Corp., has picked banks for a potential initial public offering, people familiar with the matter said.

The firm, founded in Rio de Janeiro, is working with banks including JPMorgan Chase & Co. and Banco Itau BBA on a potential listing at Nasdaq, the people said, asking not to be identified discussing confidential information. The size and timing of an IPO are still being discussed, the people said, adding that talks may not result in a listing.