Anhanguera Educacional Participacoes SA, a Brazilian administrator of private universities, plans to list its stock on the Novo Mercado section of the Sao Paulo exchange and sell as many as 20 million new voting shares.
Anhanguera said it will convert each of its preferred shares into one voting stock. Shareholders will then be offered one voting share for each seven they already own, the company said in a regulatory filing today. Shareholders will vote on the plan.
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