Brazilian Drugstore Launches IPO

Brazilian Drugstore Launches IPO


Brazil’s Droga Raia launched Monday its IPO, aiming to price December 16 and capitalize on strong sentiment towards the country’s consumer-driven growth story. It plans to sell 20.9m primary and 2.8m secondary shares, which would raise BRL510m if done at the midpoint of a BRL19.00-BRL24.00 range. A 15% greenshoe and 20% hot issue are also possible. Itau is bookrunner and lead manager, alongside Credit Suisse and Banco do Brasil as bookrunners. Droga Raia had BRL52.7m of Ebitda in the first 9 mon

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