Droga Raia Set for IPO

Droga Raia Set for IPO

Equity

Brazil’s Droga Raia is set to price what looks like the last LatAm IPO of the year today, expected at more than BRL500m. The drugstore chain seeks to capitalize on the much discussed theme of growing domestic consumer demand in Brazil. Raia plans to offer 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. It is raising funds to open new stores and improve existing ones, and

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