May 25, 2017 / 10:34 AM / 2 months ago

Brazil's Ser Educacional calls off equity sale

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SÃO PAULO, May 25 (Reuters) - Ser Educacional SA, Brazil's third biggest college operator, canceled a planned share offering saying the stock price did not reflect the company's expected profitability, it said in a statement late on Wednesday.

Ser Educacional had planned to sell 17.4 million new shares to fund expansion plans, in an operation expected to raise around 445 million reais ($135.87 million).

$1 = 3.2752 reais Reporting by Gabriela Mello; Writing by Silvio Cascione. Editing by Jane Merriman

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