Brazilian medical educational group makes Nasdaq IPO
Davis Polk & Wardwell LLP in São Paulo, New York and North California; Lobo de Rizzo Advogados in São Paulo; and Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados in São Paulo have helped Brazilian medical educational company Afya offer US$300 million worth of equity shares in its initial public offering (IPO) in the US.
Cleary Gottlieb Steen & Hamilton LLP in New York and Cescon, Barrieu, Flesch & Barreto Advogados in São Paulo advised the underwriters.
Afya’s capital markets debut took place on 19 July. The demand for shares was 14 times higher than the number of shares offered. The shares priced at US$19 dollars each.
The company was formed by the merger of several universities that provided online preparatory courses for medicine-related admission exams. Afya will invest the proceeds from its IPO in its school network and products.
Counsel to Afya
Davis Polk & Wardwell LLP
Partners Manuel Garciadiaz and associates Konstantinos Papadopoulos, Elliot de Carvalho and Hugo Casella in São Paulo; partners Michael Farber and Patrick Sigmon, and associates Richard Corbett, Tomislava Dragicevic and Sijia Cai in New York, and counsel Gregory Hughes in Northern California
Lobo de Rizzo Advogados
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partner Jean Marcel Arakawa and associates Ralff Barilli, Alexandre Hadid Portnoi and Yasmin Karam Tomaino in São Paulo
Counsel to Bank of America Securities, Goldman Sachs, UBS, Itaú BBA, Morgan Stanley, Banco BTG Pactual and XP Securities
Cleary Gottlieb Steen & Hamilton LLP
Partner Francesca Odell, counsel Jonathan Gifford associates Katherine Denby, Elena Vespoli, Scott Reed, Anthony Yanez, JinSol Lee and Elizabeth Chang, and international lawyer Maria Clara Troncoso in New York
Cescon, Barrieu, Flesch & Barreto Advogados
Partner Joaquim Oliveira and associates Mariana Borges, Julia Lobo and Daniel Mortati in São Paulo
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