Pharmacy Moves toward Bovespa

Pharmacy Moves toward Bovespa

Brazil Equity

Brazilian pharmacy chain Pague Menos has registered to become a public company, marking the first step in the IPO process. The northeast Brazil-based drug store had been among those tipped to IPO this year. It is looking to raise funds for expansion in a sector that is growing along with the rising purchasing power of the middle class. There is no timetable for the sale yet, with a company official saying that it is best to wait until market conditions improve and international investor appetite

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