Brazil Higher-Ed Company Raises $215M from IPO

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.

Stay up to date on edtech. News, research, and opportunities - sent weekly, for free.

Who we are

EdSurge helps schools and colleges find, select and use the right technology to support all learners.
© 2011-2017 EdSurge Inc. All rights reserved. Every student succeeds.