Vitru Ranks #1 Pure Distance Learning Education Group in Brazil in its Market for Second Consecutive Year
FLORIANÓPOLIS, Brazil, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Vitru Limited, or Vitru (Nasdaq: VTRU), today announced that the Brazilian Ministry of Education (Ministério da Educação), or the MEC, released the data relating to the 2019 annual census of the undergraduate market in Brazil on October 23, 2020. Based on the newly-released data by MEC: * Vitru ranks 1 pure distance learning education group in the postsecondary distance learning education market in Brazil (considering only participants in the Brazilian education market with at least 95% of students engaged in distance learning) based on the number of enrolled undergraduate students for the second consecutive year. * Vitru ranks 2 distance learning postsecondary education group in Brazil based on the number of enrolled undergraduate students (up from 3 in 2018). * Between 2018 and 2019, the Brazilian distance learning market in terms of enrolled students grew 21.7%, while Vitru grew 38.2%, consolidating its growth in recent years: the compound annual growth rate (CAGR) of private market between 2016 and 2019 was 18.7%, while Vitru’s CAGR was 41.9% in the same period. * Vitru’s market share increased to 12.3% in 2019 (from 10.8% in 2018), based on the private postsecondary education market in Brazil, which represents a market share gain of 1.5 p.p. * In the overall private postsecondary market, in 2019 the percentage of new enrollments in distance learning undergraduate courses (51%) was for the first time higher than the number of new enrollments in on-campus undergraduate courses (49%). In 2018, such percentages were 46% and 54%, respectively. In terms of total number of enrolled students, distance learning accounted for 35% in 2019 compared to 30% in 2018 (such figures reflect market conditions prior to the COVID pandemic effects). Vitru is committed to continue delivering sustainable growth rates and is proud to have this reflected by the 2019 annual census of the MEC.About VitruVitru is the leading pure distance learning education group in the postsecondary distance learning market in Brazil. Through its invested companies, Vitru provides a complete pedagogical ecosystem focused on hybrid distance learning experience for undergraduates and continuing education students.Vitru’s mission is to democratize access to education in Brazil through a digital ecosystem and empower every student to create their own successful story.Forward Looking StatementsThis press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Vitru’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of Vitru’s common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Vitru’s control. As a consequence, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented. Vitru does not undertake any obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors. CONTACT: Contact: Maria Carolina F. Gonçalves, IRO e-mail: website:
GlobeNewswire · 1d ago
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Seekingalpha · 4d ago
Credit Suisse Initiates Coverage On Vitru with Neutral Rating, Announces Price Target of $15
Credit Suisse initiates coverage on Vitru (NASDAQ:VTRU) with a Neutral rating and announces Price Target of $15.
Benzinga · 5d ago
Goldman Sachs Initiates Coverage On Vitru with Buy Rating
Goldman Sachs analyst Irma Sgarz initiates coverage on Vitru (NASDAQ:VTRU) with a Buy rating.
Benzinga · 10/13 10:09
U.S. IPO Week Ahead: Healthcare, Solar Panels, And Chinese Retail In A 9 IPO Week
Five biotechs, two medical device makers, a solar panel mounting manufacturer, and a Chinese retailer are scheduled to raise $2.0 billion in the week ahead.Several companies could join the IPO calendar early in the week, including McAfee and Datto Holding.Street research is expected for 15 companies.The lock-up for Renalytix AI will be expiring on Thursday, 10/15.
Seekingalpha · 10/11 20:55
U.S. IPO Weekly Recap: Snowflake's IPO Breaks Records In A Diverse 15-IPO Week
In the busiest week yet for the 2020 IPO market, 15 IPOs raised $8.7 billion.Snowflake took the spotlight, completing the largest software IPO ever and bagging the biggest billion-dollar pop in two decades.Eight SPACs joined the week's diverse group of IPOs.
Seekingalpha · 09/19 13:54
Vitru Limited initiates 1.6% above IPO price
After pricing IPO at $16, Vitru Limited ([[VTRU]] -68.1%) opens at $16.25.The company downsized initial public offering from 11.23M shares to 6M shares.Previously: Vitru prices downsized IPO at $16 to
Seekingalpha · 09/18 14:33
Vitru's stock debuts with a slight gain, as first trade was less than 2% above the IPO price
Shares of Vitru Ltd. undefined limped out of the gate Friday, with the first trade 1.6% above the initial public offering price. The Brazil-based digital...
MarketWatch · 09/18 14:29
Vitru prices downsized IPO at $16 to raise $96M
Brazilian distance learning education provider, Vitru Limited (VTRU) has priced its downsized initial public offering of 6M (from 11.23M) common shares at $16/share, low end of recently decreased price range of
Seekingalpha · 09/18 11:32
Vitru's IPO prices at low end of expected range to raise $96 million
Vitru Ltd. undefined said Friday that its initial public offering priced at $16 a share, at the low end of the expected range of between $16 and $18 a share....
MarketWatch · 09/18 11:27
Vitru Limited Announces Pricing of Initial Public Offering
FLORIANÓPOLIS, Brazil, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Vitru Limited (“Vitru”), a Brazilian distance learning education group company, today announced the pricing of its initial public offering of 6,000,000 of its newly-issued common shares pursuant to a registration statement on Form F-1 filed with
GlobeNewswire · 09/18 11:16
Vitru Initial Public Offering Size Was Cut To 6M Shares From 11.23M Shares And Price Was Cut From $22-$24 to $16-$18 Per Share
Reuters · 09/17 11:49
IPO Outlook For The Week: Snowflake and Amwell Lead Busy 12 IPO Lineup
Benzinga took a look at high profile IPOs coming in the second half of 2020. Six of those 13 companies could price the week of September 14. Here is a look at the 12 companies expected to go public.
Benzinga · 09/13 14:29
Vitru Prepares For $258 Million U.S. IPO Launch
Vitru has filed to raise $258 million for itself and selling shareholders in a U.S. IPO.The firm provides a hybrid online / hub educational services to post-secondary students in Brazil.VTRU's revenue growth is slowing, there is a large contingent of shareholders selling into the IPO and Brazil continues to suffer greatly from the Covid-19 pandemic.I'll watch this IPO from the sidelines.
Seekingalpha · 09/08 22:40
Vitru Limited sets terms for 11.2M IPO
Brazilian education provider, Vitru Limited (VTRU) to raise $258M by offering 11.2M shares (47% insider) at a price range of $22 - $24.At the midpoint of the proposed range, Vitru would
Seekingalpha · 09/08 18:50
U.S. IPO Weekly Recap: The IPO Market Gears Up For Fall With Wave Of Filings In A 2 IPO Week
Two foreign electric vehicle makers and three SPACs went public this past week.A wave of filings brought 27 companies into the IPO pipeline.Three SPACs raised $1.6 billion this week.
Seekingalpha · 08/30 18:43
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About VTRU
Vitru Ltd is a Brazil-based company that provides postsecondary digital education services. The Company offers undergraduate and graduate courses through its Virtual Learning Environment (VLE), which consists on eBooks, videos and podcasts, as well as on weekly in-person meetings with tutors, among others. The firm has also 10 campuses to conduct traditional on-campus undergraduate courses. The portfolio of courses is composed of over 200 subjects, including pedagogy, business administration, accounting, physical education, engineering, IT, law and health-related.