Afya Educacional, a Brazil-based medical education provider, has raised USD261 million in its initial public offering (IPO) on Nasdaq. The offering consisted of 13.7 million shares, including a secondary offering of 1.9 million shares, sold for USD19.00 per share. The company plans to use the proceeds from the offering to fund future acquisitions and investments, as well as to support general administrative processes. Afya is backed by Brazil-focused alternative fund manager Crescera Investimentos, which did not dispose of any shares in the IPO.