Abril Educação Preps IPO Valued at Between $250-600 Million

Brazilian newspaper Valor Econômico reported on Wednesday that education company Abril Educação, owned by media group Abril, is preparing an initial public offering on the stock market to raise between US$205 and US$600 million. The group recently bought Wise Up, a language school franchise, for US $447 million and the funds raised by the IPO will pay for this acquisition. According to Valor newspaper, of the US$ 447 million, US$248 will be paid in cash and the rest will be paid to Flávio Augusto, the founder of Wise Up.

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