Estacio Follow-on Opens Brazil ECM

Estacio Follow-on Opens Brazil ECM

Brazil Equity

Brazil’s Estacio has priced a BRL769m ($377m) equity follow-on, conceding a 6.4% discount in Brazil’s first equity sale of 2013. The education company is selling 18.3m shares, assuming a 15% greenshoe, at BRL42.00 each, according to the CVM. The price compares to Wednesday’s BRL42.75 closing level. The shares rose 1.79% in Wednesday’s session and are up nearly 5% since the transaction’s launch. The sale, heard oversubscribed, includes 3.6m secondary shares sold by Private Equity Partners. Estaci

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