Vitru Educação (VTRU3), a leader in digital education in the country and the controlling company of the brands UNIASSELVI and UniCesumar, has carried out a follow-on public offering on B3, Brazil’s stock exchange, to raise capital.
The offering consisted of a primary distribution of 13,614,704 ordinary shares issued by the company, intended exclusively for professional investors. The offering was coordinated by BTG Pactual as the lead coordinator, along with Itaú BBA and Bradesco BBI.
“From a strategic point of view, the follow-on will strengthen Vitru’s capital structure, contributing even more to its organic growth, such as the opening of new in-person colleges related to the health field, capturing opportunities opened by the new regulatory framework,” said Aroldo Alves, CEO of Vitru Educação.
Vitru conducted its IPO in 2020 on the American Nasdaq exchange and, in June 2024, moved its shares to B3. This was the company’s first share offering conducted in Brazil.
“It is a great satisfaction to follow the growth of a company in the education sector, which plays such an important role for the economy and for society. This offering shows, in practice, the strength of the capital markets as a source of financing for companies that generate a positive impact in Brazil,” said Flavia Mouta, Director of Listing and Relationship at B3.
Gabriel Lobo, CFO of Vitru, added that this is the company’s first market move since migrating to B3. “The equities market continues to be an important strategic tool for companies. This operation is a milestone in our trajectory, it further qualifies our shareholder base and reinforces the market’s positive perception of the company and our ability to transform education in Brazil,” he concluded.
Follow-on offerings are new public offerings of shares made by companies that have already conducted their IPO on the exchange. Companies can return to the market to conduct new share offerings whenever they wish, and the operations must be approved by the Brazilian Securities and Exchange Commission (CVM).
The process allows publicly traded companies to access additional funding from investors after their initial listing. This type of offering is a common method for raising capital to finance expansion plans, reduce debt, or fund other corporate initiatives without taking on new loans.
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