Afya Limited’s $300 Million Initial Public Offering

Davis Polk advised Afya Limited on its $300.3 million initial public offering of 15,805,841 Class A common shares, which includes the full exercise of the underwriters’ option to purchase additional shares.

The Class A common shares are listed on the Nasdaq Global Select Market under the symbol “AFYA.”

Based in Minas Gerais, Brazil, Afya is a leading medical education group in Brazil based on number of medical school seats, delivering an end-to-end physician-centric ecosystem that serves and empowers students to be lifelong medical learners.

BofA Securities, Inc., Goldman Sachs & Co. LLC, UBS Securities LLC and Itau BBA USA Securities, Inc. acted as Global Coordinators in this initial public offering, and BofA Securities, Inc., Goldman Sachs & Co. LLC, UBS Securities LLC, Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Banco BTG Pactual S.A.– Cayman Branch and XP Securities, LLC collectively acted as Bookrunners in the offering.

The Davis Polk capital markets team included Manuel Garciadiaz (Picture), Konstantinos Papadopoulos, Elliot M. de Carvalho, Richard Corbett and Hugo Casella. The tax team included Michael Farber, Patrick E. Sigmon and Tomislava Dragicevic. Sijia Cai provided 1940 Act advice. Gregory D. Hughes provided executive compensation advice.

Involved fees earner: Sijia Cai – Davis Polk & Wardwell; Hugo Casella – Davis Polk & Wardwell; Richard Corbett – Davis Polk & Wardwell; Elliot de Carvalho – Davis Polk & Wardwell; Tomislava Dragicevic – Davis Polk & Wardwell; Michael Farber – Davis Polk & Wardwell; Manuel Garciadiaz – Davis Polk & Wardwell; Gregory Hughes – Davis Polk & Wardwell; Konstantinos Papadopoulos – Davis Polk & Wardwell; Patrick Sigmon – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Afya Limited;

Author: Ambrogio Visconti.