July 6, 2020 / 3:17 PM / a month ago

Brazilian education firm Cogna plans Nasdaq listing of subsidiary: filing

SAO PAULO (Reuters) - Brazil’s for-profit education company Cogna Educacao said on Monday it has filed for an initial public offering of Vasta Platform Limited, its unit which sells digital solutions for private schools, on Nasdaq.

Vasta will control its other subsidiary, Somos Educacao, which owns K-12 schools, according to the filing with the U.S. Securities and Exchange Commision.

Cogna shares rose 8.5% in late morning trading in Sao Paulo to 7.81 reais.

Reporting by Tatiana Bautzer, editing by Louise Heavens and Richard Chang

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