Shares in Brazil medical lab firm Dasa soar after it raised $590 million

  • 4/7/2021
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SAO PAULO (Reuters) - Shares in Brazilian medical lab company Diagnosticos da America SA soared more than 20% in Wednesday morning trading after the company concluded a share offering on Tuesday. The company raised 3.3 billion reais ($590 million) in the offering of 57 million new shares, it said in a securities filing. Dasa, as the company is known, priced its shares at 58 reais, below the original price range, and they were trading at 72 reais on Wednesday. The company had originally planned to price the shares between 64.90 to 84.50 reais each. Dasa was already a listed company, but as its liquidity was very low, the deal was considered a re-IPO. Its shares ended Tuesday at 144 reais. Dasa’s share offering comes amid a dealmaking boom in Brazil’s healthcare sector. There is a growing demand for healthcare services and the country’s population is aging. ($1 = 5.5898 reais)

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