Hapvida Completes Initial Public Offering on the São Paulo Stock Exchange (B3)
04.30.18
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The Firm represented Hapvida Participações e Investimentos S.A. (“Hapvida”) and PPAR Pinheiro Participações S.A. (the “Selling Shareholder”), in connection with the initial public offering of 127,659,575 common shares of Hapvida (excluding common shares to be sold pursuant to the underwriters’ option to purchase additional common shares) on the São Paulo Stock Exchange (B3) at a public offering price of R$23.50 per share.
The offering raised R$2.3 billion (approximately US$668.6 million) in gross proceeds to Hapvida and R$700 million (approximately US$203.5 million) in gross proceeds to the Selling Shareholder. The shares were offered to certain qualified institutional buyers under Rule 144A in the United States, and to non-U.S. persons outside the United States in reliance upon Regulation S. Hapvida’s shares began trading on the B3 under the ticker symbol “HAPV3” on April 25, 2018.
Hapvida is the third largest health and dental care operator in Brazil and the leader in the North and Northeast regions of Brazil in terms of number of beneficiaries.
The Simpson Thacher team included Grenfel S. Calheiros and Luiz F. Noronha (Capital Markets – São Paulo); Thais Gasparian (Capital Markets – New York); and Jonathan Cantor and Jasmine Hay (Tax – New York).