July 19, 2017 |
Uruguayan pharma company plans to price its share sale on Friday
Biotoscana plans to hold its IPO on Friday, three days later than originally scheduled after Brazil’s securities regulator CVM asked to review changes to the company’s balance sheet.
The pharmaceuticals company is understood to have already obtained an oversubscribed order book despite the delay, according to two ECM bankers.
“The books are in fine shape,” one banker familiar with the deal said.
The firm is offering 16m shares in a primary offering, while private equity fund Advent International is selling at least 24.5m shares in a secondary portion. The shares will trade on the BM&FBovespa Stock Exchange in Sao Paulo.