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Sept. 18, 2020, 7:27 a.m. EDT

Vitru's IPO prices at low end of expected range to raise $96 million

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By Tomi Kilgore

Vitru Ltd. /zigman2/quotes/220991531/composite VTRU -6.44% said Friday that its initial public offering priced at $16 a share, at the low end of the expected range of between $16 and $18 a share. The Brazil-based digital education company raised $96 million as it sold 6 million shares in the IPO, which was lowered Thursday from 11.23 million shares. With 23.06 million shares outstanding after the IPO, the pricing values the company at $368.9 million. The stock is expected to start trading Friday on the Nasdaq exchange under the ticker symbol "VTRU." The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +0.92% has soared 58.5% year to date while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.52% has gained 3.9%.

/zigman2/quotes/220991531/composite
US : U.S.: Nasdaq
$ 12.63
-0.87 -6.44%
Volume: 142,877
Oct. 22, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$286.52 million
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 54.60
+0.50 +0.92%
Volume: 533,862
Oct. 22, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,453.49
+17.93 +0.52%
Volume: 2.39B
Oct. 22, 2020 5:15p
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