- The company specializes in products for the treatment of cancer and blood and kidney diseases;
- The announcement comes two days after medical distributor Viveo also applied for an IPO registration.
Brazilian pharmaceutical firm Blau Farmacêutica on Friday filed for IPO, in search of resources for expansion in Latin America, expanding the line of health companies towards the Brazilian stock exchange, due to the COVID-19 pandemic.
Headquartered in Cotia (Sao Paulo’s state) the company specialized in products for the treatment of cancer and blood and kidney diseases has five plants in Brazil and 5 subsidiaries in Latin America, including Argentina, Chile, Colombia, Peru, and Uruguay.
The company informed in the preliminary prospectus of the offer that it intends to use the proceeds with the sale of new shares to expand its plant, invest in plasma collection centers in the United States, accelerate investments in research and development, expansion in Latin America, and pay debts.
The operation, which will be coordinated by Itaú BBA, Bradesco BBI, BTG Pactual, XP, JPMorgan, and Citi, will also serve the company’s sole shareholder, Marcelo Hahn, to sell a stake in the business.
The announcement comes two days after medical distributor Viveo also applied for an IPO registration. In addition to the Rede D’or of hospitals, D1000 Varejo Farma debut at Brazilian stock exchange last year. The Brazilian drugstore chain Nissei is awaiting approval from the Securities and Exchange Commission to proceed with its IPO.
(Translated by LABS)