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Brazilian oncology chain Oncoclinicas files for an initial public offering of $ 670 million

SAO PAULO, Jul 20 (Reuters) – Brazilian oncology clinic chain Oncoclinicas, backed by Goldman Sachs Group Inc., plans to raise approximately 3.5 billion reais ($ 671.26 million) in an IPO amid a Health care dealmaking booms in the country.

Oncoclinicas set the price per share between 22.21 reais and 30.29 reais. The company will decide on the final price on August 6th.

Both the company and its shareholders plan to sell 135.1 million shares in the IPO, but that volume could rise 35% depending on investor demand.

Oncoclinicas plans to use the proceeds from the IPO to grow, including through mergers and acquisitions.

It recorded net sales of 2 billion reais and a net loss of 125.2 million reais in 2020.

Goldman Sachs has a 93.5% stake in the company, but plans to reduce it to around 60% after the IPO.

The investment banking units of Goldman Sachs, Itau Unibanco, Citi, UBS BB, Santander, JPMorgan and XP will manage the offering.

$ 1 = 5.2141 reais reporting by Carolina Mandl editing by Paul Simao

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