Qualicorp Defines Selldown

Brazil’s Qualicorp is looking at a BRL856m ($495m) size on its planned all-secondary share equity follow-on, according to information in regulatory documents. The health insurer that made its Bovespa debut last year plans to sell 48.5m shares, which means raising BRL856m if done at Monday’s BRL15.34 share price and a 15% greenshoe is exercised. A 20% hot issue is also available. It still has not release a timeline. The two selling shareholders are a holding vehicle for private equity firm Carlyle and a vehicle owned by founder and board president Jose Seripieri Filho, both also sellers in the BRL731m secondary portion of last year’s IPO. Bank of America Merrill Lynch, Bradesco, Credit Suisse and Goldman Sachs are managing.