Mercadolibre Preps Secondary Offering

Argentine online marketplace Mercadolibre plans to sell up to $292m in common stock in a secondary offering on the Nasdaq Global Market. It did not disclose how many shares will be sold, but did say that some shareholders will also sell equity. Proceeds will fund future acquisitions or investments, and general corporate purposes. JPMorgan and Merrill Lynch will underwrite the offering. The company sold 16.1m shares in a US IPO in August at $18 a share. The stock closed Friday at $54.06.