March 29, 2018 / 7:55 PM / 4 months ago

Brazil healthcare provider Intermédica sets IPO price range

SAO PAULO (Reuters) - Brazilian healthcare provider Notre Dame Intermédica Participações SA set the price range on Thursday for its initial public offering between 14.50 reais and 17.50 reais per share.

Intermédica and its controlling shareholder, Bain Capital, intend to raise between 1.8 billion reais ($546 million) and 2.1 billion reais, according to a securities filing.

The company will use nearly 330 million reais to increase working capital.

The IPO pricing is scheduled for April 19 and the debut on Brazil’s stock exchange B3 for April 23.

The healthcare provider reported net income of 394 million reais for 2017, a 60 percent increase over a year earlier. Revenue increased 28.2 percent to 5.3 billion reais.

Intermédica has hired the banks Itaú BBA SA, Morgan Stanley & Co, Credit Suisse Group AG, JPMorgan Chase & Co, UBS AG, Banco Bradesco BBI and Citigroup Inc to manage its IPO.

Competition for investors may get fierce as Intermédica intends to list its shares in the same period as its Brazilian rival Hapvida Participações e Investimentos SA.

($1 = 3.2954 reais)

Reporting by Carolina Mandl; Editing by Leslie Adler

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