Gains 1.6% on Nasdaq debut

Vitru

18/09/2020 15:37

** Brazilian distance learning company's shares  VTRU.O 
rise 1.6% to $16.25 in Nasdaq debut, valuing the firm at $374.7
mln
    ** Company priced 6 mln shares at $16 for total proceeds of
$96 mln, way below its initially targeted $310 mln  urn:newsml:reuters.com:*:nGNXBVRYJ
    ** VTRU, on Thursday, reduced the number of shares to be
sold to 6.0 mln from 11.2 mln, and cut the price range to
$16-$18 per share from $22-$24  urn:newsml:reuters.com:*:nL1N2GE0N9
    ** Company is backed by private equity firm Carlyle Group
Inc  CG.O , Neuberger Berman LLC and Vinci Partners
    ** VTRU plans to use proceeds from offering to expand its
business, including through acquisitions
    ** Goldman Sachs & Co, BofA Securities, Itau BBA USA
Securities Inc and Morgan Stanley are global coordinators for
the offering

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com))