Reuters: Regulatory News: Brazil lifts suspension of Ser Educacional's public offering

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

50% off Print Subscription of USA Today Get the news delivered to your doorstep. Lock in the savings and receive USA Today for just $0.75 a day. From our sponsors

Brazil lifts suspension of Ser Educacional's public offering Oct 21st 2013, 23:08 Share this Email Print Reprints SAO PAULO | Mon Oct 21, 2013 7:08pm EDT SAO PAULO Oct 21 (Reuters) - Brazil's securities industry watchdog CVM on Monday lifted the suspension of Grupo Ser Educacional SA's initial public offering after the education company included relevant tax information in the offering's prospectus. In a statement, the Rio de Janeiro-based regulator said the suspension of Ser Educacional's IPO would end effectively on Tuesday. Last week CVM said the prospectus lacked information on tax benefits stemming from a government program subsidizing university tuition. The impasse came amid a three-month drought in new stock listings on the São Paulo Stock Exchange. Ser Educacional and shareholders had intended on Friday to price the IPO, with which they sought to raise up to 723.3 million reais ($333 million). Brazil's $11 billion-a-year education industry has grown at double-digit rates in recent years as a tight job market demands a skilled workforce with better technical knowledge, stronger analytical abilities and proficiency in foreign languages. Initial public offerings have become a feasible fundraising option for college operators, language schools and learning systems providers, just as mergers and acquisitions activity has heated up over the past two years. Ser Educacional hired the investment banking units of Grupo BTG Pactual SA, Credit Suisse Group, Goldman Sachs Group Inc and Banco Santander Brasil SA to manage its IPO. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions