Ser Passes Regulator Exam

Ser Passes Regulator Exam

Brazil Equity

Ser Educacao has adjusted its IPO documents to the satisfaction of the CVM, and plans to finalize pricing Friday, it says. The Brazilian for-profit educator is expected to keep the BRL17.50 per share price – suggesting a BRL620m ($286m) total transaction size – that it set last week before regulators suspended it on a technicality. The issuer has also given investors until today to cancel orders. Ser is offering 35.4m shares, assuming a 15% greenshoe, and the BRL17.50 price came below the BRL19.

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