Brazil Higher-Ed Company Raises $215M from IPO

Financing

Brazil Higher-Ed Company Raises $215M from IPO

Oct 28, 2013

ANIMA: Brazilian educational company Anima Educação, which operates 17 higher-ed institutions in Minas Gerais, Sao Paulo and Rio de Janeiro states, has raised R$468 million (approximately US$215 million) in its IPO. The Wall Street Journal says this amount is "less cash than expected amid sluggish demand" as the company sold 25.3 million common shares--less than the anticipated 28.47 million--at R$18.50 a pop. While Brazil's education industry has shown strong growth (as EdSurge contributor Patrícia Gomes described here), the piece suggests a potential 10% tax increase for education companies dampened investor enthusiasm for Anima's IPO--and perhaps others to come.

Learn more about EdSurge operations, ethics and policies here. Learn more about EdSurge supporters here.

More from EdSurge

Get our email newsletterSign me up
Keep up to date with our email newsletterSign me up