Arco Platform, which provides turnkey curriculum solutions to private schools in Brazil, announced terms for its IPO on Wednesday.
The Sao Paulo, Brazil-based company plans to raise $183 million by offering 11.1 million shares at a price range of $15.50 to $17.50. At the midpoint of the proposed range, Arco Platform would command a market value of $802 million and an enterprise value of $644 million.
Arco Platform was founded in 2004 and booked $73 million in sales for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol ARCE. Goldman Sachs, Morgan Stanley, Itau BBA, BofA Merrill Lynch, Allen & Company, BTG Pactual and UBS Investment Bank are the joint bookrunners on the deal. The pricing date has not yet been set.
