Abril Defines Follow-on

Abril Defines Follow-on

Brazil Equity

Brazil’s Abril Educacao is expecting to raise BRL618m ($307m) in its equity follow-on in April. The educational company plans to sell 3.1m primary units and 9.9m secondary units, meaning a BRL618m deal at Monday’s BRL47.50 closing price. The totals assume a 15% greenshoe option. The secondary shares are to be sold by members of the controlling Civita family and private equity funds managed by BR Investimentos and Banif. Abril plans to use the primary proceeds to continue making the acquisitions

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