On Air Now

Current Show

Jerry Bader   9:00 AM - 11:00 AM

Call The Jerry Bader Show at 1-888-455-1360

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 550 AM Wausau, WI 99.9 FM Stevens Point, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
63° Feels Like: 63°
Wind: SSW 9 mph Past 24 hrs - Precip: 0.05”
Current Radar for Zip

Today

Scattered Thunderstorms 72°

Tonight

Scattered Thunderstorms 65°

Tomorrow

Mostly Sunny 84°

Alerts

Brazil suspends trade in shares of university operator GAEC

SAO PAULO (Reuters) - Brazil's securities regulator CVM on Tuesday suspended trading in shares of education company GAEC Educação SA in the second day of trading since its $213 million initial public offering.

The CVM said it handed down the suspension due to statements attributed to the company's chairman, Ozires Silva, which were published in the local newspaper Valor Economico on Monday.

GAEC had not yet submitted a closing statement for its IPO, making statements to the media off limits by law.

CVM said it could reverse the suspension if the company corrects the perceived irregularities or it could cancel the IPO if GEAC does not take such steps.

GAEC shares closed down 1.5 percent at 18.93 reais on Tuesday, in their second day of trading.

The firm operates universities under the Anima Educação brand in Brazil, where an $11 billion-a-year education industry has grown at a double-digit rate in recent years.

(Reporting by Reese Ewing; Editing by Joseph Radford)

Comments