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SAO PAULO (Reuters) – The Brazilian healthcare company Hapvida Participacoes e Investimentos SA (HAPV3.SA) has issued a share offering of up to R $ 2.63 billion ($ 704 million), according to a document filed on Friday.
The company will sell 46.4 million shares as part of a primary offering. Given over-allocations, Hapvida could sell 16.2 million additional new shares.
Hapvida said it would use the proceeds of the bid to finance acquisitions. In May, the company acquired the rival group Sao Francisco Saude for R $ 5 billion.
The price per share will be fixed on July 24th.
Investment Banking Units of Banco BTG Pactual SA (BPAC11.SA), Bank of America (BAC.N), Goldman Sachs Group Inc (GS.N) and Banco Santander Brasil SA (SANB11.SA) will manage the offer.
Reporting by Carolina Mandl; Edited by Daniel Wallis
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