Brazil's Dasa launches $905mn share offering
- Dasa's share offering comes as Brazil's private healthcare sector is experiencing a dealmaking boom, while the country struggles to deal with the coronavirus crisis.
- As shares liquidity is low, this deal is considered a re-IPO. The company set a price range between 64.90 reais and 84.50 reais per share. The price per share will be set on April 6.
SAO PAULO: Brazilian medical services firm Diagnósticos da América SA has announced a share offering of roughly 5 billion reais ($905.57 million), according to a securities filing published late on Tuesday.
The offering will be mainly primary, but one of its shareholders will also sell a small stake in the company.
Dasa's share offering comes as Brazil's private healthcare sector is experiencing a dealmaking boom, while the country struggles to deal with the coronavirus crisis.
The company said it plans to use the proceeds to grow its business organically and through acquisitions, to pay for the recent acquisition of the Grupo Leforte hospital and clinic company and to invest in new products.
As shares liquidity is low, this deal is considered a re-IPO. The company set a price range between 64.90 reais and 84.50 reais per share. The price per share will be set on April 6.
Bradesco BBI, BTG Pactual, Bank of America, Credit Suisse, Morgan Stanley, Safra, Santander Brasil and Itau BBA will manage the offering.
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