Odontoprev Looking To Raise $250 Million

Odontoprev, Brazil’s largest dental insurer, is to float its stock on Bovespa’s Novo Mercado. The preliminary prospectus released by the company details the IPO comprising a primary offering of 5.8 million ordinary shares and a secondary offering of 10.4 million preferred shares. The IPO is expected to raise up to $254 million. Bookbuilding will begin today, November 9, and the issue looks to price November 29. Coordinators Itaú and USBS are giving a price guide of between R$20 and R$28 per share.