February 26, 2018 / 10:41 PM / 25 days ago

UPDATE 1-Brazilian healthcare insurer Notre Dame Intermédica files for IPO

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By Carolina Mandl

SAO PAULO, Feb 26 (Reuters) - Brazilian healthcare insurer Notre Dame Intermédica Participações SA filed for an initial public offering on the Sao Paulo stock exchange on Monday, according to documents filed with Brazil’s securities regulator CVM.

The offering will have a primary portion, in which the company will issue new shares, and a secondary portion, in which controlling shareholder Bain Capital Private Equity LP will sell part of its stake. The amount of the offering has not been disclosed.

The investment banking units of Itaú Unibanco Holding SA , Morgan Stanley, Credit Suisse Group AG , JPMorgan Chase & Co, UBS AG, Banco Bradesco SA and Citigroup have been hired to manage the offering.

In 2017, Intermédica posted recurring net profit of 393.6 million reais ($122.08 million) and revenue of 5.304 billion reais.

Intermedica expects to conclude its IPO next month, according to a source with knowledge of the matter.

It is the fifth Brazilian company to seek an IPO this year, along with online bank Banco Intermedium SA, pharmaceutical company Blau Farmaceutica SA, toy retailer Ri Happy Brinquedos SA and Grupo SBF SA, which owns sports retailer Centauro.

Intermedica first hired banks for an IPO a year ago and filed with Brazilian securities regulator last May.

The source added the company decide to postpone the deal late last year as it wanted to have more quarters of financial statements to present to investors.

$1 = 3.2240 reais Reporting by Carolina Mandl; editing by Diane Craft and Susan Thomas

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