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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 -2.72% 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 -3.78% has soared 58.5% year to date while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.21% has gained 3.9%.

/zigman2/quotes/220991531/composite
US : U.S.: Nasdaq
$ 11.45
-0.32 -2.72%
Volume: 8,971
Oct. 30, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$243.01 million
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 50.68
-1.99 -3.78%
Volume: 478,004
Oct. 30, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,269.96
-40.15 -1.21%
Volume: 3.01B
Oct. 30, 2020 5:18p
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