Vitru Ltd. Plans $253 Million IPO for September 17th (VTRU)

Vitru Ltd. (VTRU) is planning to raise $253 million in an IPO on Thursday, September 17th, IPO Scoop reports. The company plans to issue 11,000,000 shares at $22.00-$24.00 per share.

In the last year, Vitru Ltd. generated $86.1 million in revenue and $2.1 million in net income. Vitru Ltd. has a market cap of $530 million.

Goldman Sachs, BofA Securities, Itaú BBA, Morgan Stanley, Bradesco BBI, BTG Pactual, Credit Suisse, Santande and rXP Investimentos acted as the underwriters for the IPO.

Vitru Ltd. provided the following description of their company for its IPO: ” Our mission is to democratize access to education in Brazil through a digital ecosystem and empower every student to create their own success story. Postsecondary education students in Brazil have been facing several challenges, including (1) high tuition fees with few to no financing alternatives, (2) long commutes, (3) lack of access to continuously available resources for studying, (4) teachers, tutors and materials which fail to engage students, and (5) poor support and student experience. “.

Vitru Ltd. was founded in 2014 and has 6324 employees. The company is located at Rodovia José Carlos Daux, 5500, Torre Jurerê A, 2nd floor, Saco Grande, Florianópolis, State of Santa Catarina, 88032-005, Brazil and can be reached via phone at +55 (47) 3281-9500.

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