Estacio Graduates with 2% Discount

Estacio Graduates with 2% Discount

Brazil Equity

Estacio Participacoes, the first LatAm equity issuer after Petrobras’ record-breaking capitalization, has lit the way for small-caps with a follow-on priced at a 2% discount. The owner of Brazil’s Estacio higher education provider raised BRL685m through the sale of 36m secondary shares at BRL19 each, according to the CVM. The total anticipates a 10% greenshoe. The price represents a 2.1% discount to Thursday’s BRL19.41 close. “You can tell the market is back when small-cap equity can get done,”

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