Vitru Ltd. , a Brazilian digital education company, set terms for its initial public offering on Tuesday, with plans to offer 11.23 million shares priced at $22 to $24 each. The company ha applied to list on Nasdaq under the ticker “VTRU.” Selling shareholders are selling another 5.2 million shares. There are nine banks underwriting the deal, led by Goldman Sachs. Proceeds will be used to fund growth through the expansion of the company’s hybrid platform, for acquisitions and other general corporate purposes. “Our mission is to democratize access to education in Brazil through a digital ecosystem and empower every student to create their own success story,” the company says in its prospectus. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
