SPY416.07+3.90 0.95%
DIA341.30+3.18 0.94%
IXIC13,950.22+163.95 1.19%

IPO of Brazilian pharma Blau may raise around $375 mln

· 03/17/2021 16:40
IPO of Brazilian pharma Blau may raise around $375 mln

- The initial public offering of Brazilian pharmaceutical company Blau Farmaceutica may raise around 2.1 billion reais ($376 million), according to a preliminary prospectus filed by the company on Wednesday.

The calculation assumes that Blau will price its shares at 47.6 reais, in the middle of the suggested price range. The company could raise around 1.5 billion reais issuing new shares, and the rest would go to shareholders reducing their stakes.

The transaction will be managed by investment banking units of Itau Unibanco Holding SA, Banco Bradesco SA, Banco BTG PActual SA, JPMorgan Chase & Co and Citigroup.

Pricing is expected for April 6 and shares will debut in Brazilian stock exchange on April 8 under the ticker BLAU3.SA

($1 = 5.5814 reais)

(Reporting by Aluisio Alves; Editing by David Gregorio)

((marcelo.rochabrun@thomsonreuters.com; +55 11 5644 7768;))