Arco Platform Ltd. has filed for an initial public offering, according to a filing on Friday, seeking to sell up to $100 million worth of shares, although that number is often a placeholder used to calculate filing fees and typically updated in subsequent filings. The Sao Paulo, Brazil-based educational-content company listed revenue of $63 million in 2017 and $51 million in the first six months of this year. It said it earned 25 cents a share in 2017 and 29 cents a share in the January-to-June period. Arco plans to use the proceeds of the IPO to fund potential acquisitions or investments in other businesses and products. Arco filed to trade on the Nasdaq stock exchange under the symbol ARCE. Goldman Sachs, Morgan Stanley, and Brazilian investment bank Itau BBA are listed among the underwriters.
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