October 9, 2020 |
Brazilian private education company Cruzeiro do Sul Educacional plans to spend 93% of proceeds from an upcoming initial public offering (IPO) on acquisitions and use the rest to build new facilities, it said in a preliminary prospectus on Wednesday.
São Paulo-based Cruzeiro do Sul will issue new shares in the IPO and shareholders Archy, BRL Trust Investimentos and Magnetis will sell part of the their stakes in the deal, according to the preliminary prospectus.
Archy, an investment fund managed b
Singapore fund GIC expects to sell shares in the Brazilian private education company's initial listing