April 18, 2018 / 3:39 PM / in a year

IPO of Brazil's Intermédica has demand to price mid-range: sources

SAO PAULO (Reuters) - Brazilian healthcare provider Notre Dame Intermédica Participações SA has enough demand to price its initial public offering (IPO) around the middle of the suggested price range, three sources with knowledge of the matter said.

In March, Intermédica set the IPO price range between 14.50 reais and 17.50 reais. The price will be defined on Thursday. The company did not immediately comment on the matter.

The company and its controlling shareholder intend to raise between 1.8 billion reais ($532.17 million) and 2.1 billion reais.

According to one of the sources, at 16 reais, the mid point of the range, Intermédica had demand from investors equivalent to 3.5 times the amount of the offering shares. Another source said that there are buyers for the shares at all prices set in the range.

Intermédica’s will be the first initial public offering in São Paulo stock exchange this year, as three other Brazilian companies called off previous IPO plans due to market volatility.

Next week, three other companies are lined up to price their offerings: online lender Banco Inter SA, shoemaker Dass Nordeste SA and healthcare provider Hapvida Participações e Investimentos SA.

(This story corrects name of lender to Banco Inter, not Banco Intermedium, in sixth paragraph.)

Reporting by Carolina Mandl; Editing by Alistair Bell

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below