(Bloomberg) -- Vasta Platform Ltd, a unit of Brazilian for-profit education firm Cogna Educacao, priced its initial public offering above the proposed target range, according to two people familiar with the matter.
The firm sold shares at $19 apiece, the people said, asking not to be named because the discussions are private. The company, which provides educational and digital solutions for K-12 private schools, had set a price range of between $15.50 to $17.50, according to the prospectus.
The initial amount of about 18.6 million shares being offered may be raised by about 2.8 million shares through an additional allotment, according to the prospectus. If the full amount is sold, the firm will raise about $407 million.
Goldman Sachs, BofA Securities, Morgan Stanley, Itau BBA, UBS Investment Bank and Banco Bradesco BBI are running the deal.
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