Patria Investments Sets IPO at 26.65 Million Shares; Sees Pricing at $14-$16 Each
January 14 2021 - 7:29AM
Dow Jones News
By Colin Kellaher
Patria Investments Ltd. on Thursday said it plans to sell 16.65
million shares at between $14 and $16 apiece in its initial public
offering.
At the $15 midpoint of that range, the Cayman Islands
private-markets investment firm said it expects net proceeds of
about $224.5 million, or roughly $259.3 million if the underwriters
exercise in full an option to buy about 2.5 million additional
shares.
Patria said current shareholder Blackstone Group Inc., which
owns a 30% stake and 4.1% total voting power, plans to sell 10
million shares in the offering, bringing the total size of the IPO
to 26.65 million shares.
Patria said it plans to use the bulk of the proceeds from the
offering to fund capital commitments to existing and new funds and
for the expansion of its operations through acquisitions of asset
managers, portfolios and distribution channels.
The company said it has applied to list its shares on the Nasdaq
Global Select Market under the symbol PAX.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 14, 2021 07:14 ET (12:14 GMT)
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