STXNEWS LATAM-Brazil's Anima adds more info in IPO prospectus
Brazilian education company GAEC Educação SA, which wants to raise up to 626.3 million reais ($289 million) in an initial public offering slated for Thursday, included new information in the transaction's prospectus. GAEC, which operates under the Anima Educação brand, added a deadline date for potential investors to call off their bids, according to a securities filing on Monday.
The move came in the wake of a Friday decision by Brazil's securities industry watchdog CVM to suspend the IPO of Grupo Ser Educacional SA, saying the education company failed to include relevant tax information in its prospectus. The regulator said the suspension could last for up to 30 days and that the prospectus lacked precise information on tax benefits stemming from a government program offering exemptions to universities involved in a tuition fee subsidy program.
Itaú BBA, Bank of America Merrill Lynch and HSBC Holdings Plc were hired to manage the Anima IPO. Itaú BBA is a unit of Itaú Unibanco Holding SA, Brazil's largest bank by market value. Bank of America Merrill Lynch is a unit of Bank of America Corp.
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