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UPDATE 2-Brazilian Fintech TradersClub worth $ 522 million on IPO

(Updates with official sources and numbers)

SAO PAULO, July 26 (Reuters) – The Brazilian financial start-up TradersClub valued its IPO on Monday at Reais 9.50 per share and a valuation of Reais 2.7 billion (521 , $ 58 million).

The company raised 606.9 million reais when it went public, according to the filing. A source familiar with the matter told Reuters earlier in the day that the company would raise 712.5 million reais, but final fundraising was less as one of two over-allotments went unsold.

The company, also known as TC, offers services such as news, research and investment chats to 470,000 investors via its app.

The shares are scheduled to trade on the São Paulo Stock Exchange on Wednesday. ($ 1 = 5.1766 reais) (reporting by Paula Laier; writing by Carolina Mandl; editing by Chris Reese and Leslie Adler)

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