April 23, 2018 / 11:21 PM / 7 months ago

Brazilian healthcare provider Hapvida raises $985 mln in IPO -source

SAO PAULO, April 23 (Reuters) - Brazilian healthcare provider Hapvida Participações SA and its shareholders are set to raise around 3.4 billion reais ($985 million) in the company’s initial public offering, one source with direct knowledge of the matter said.

Hapvida priced its IPO late on Monday at 23.50 reais per share, above the middle of the suggested price range of 20.41-25.66 reais.

Demand equivalent to six times the size of the deal allowed Hapvida to raise the size of the offering using the over-allotment provision known as “greenshoe,” the source added. ($1 = 3.4521 reais) (Reporting by Carolina Mandl and Paula Laier, Editing by Rosalba O’Brien)

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