Rede D'Or São Luiz S.A. has hired banks for a proposed initial public offering (IPO), seeking a valuation of at least BRL 100 billion ($18 billion), a source familiar with the matter said. The company and its shareholders, which include founder family Moll, private equity firm Carlyle and Singapore state investor GIC, plan to raise BRL 15 billion, the source added. Rede D'Or's press office declined to comment on "market speculation," according to a statement. In a securities filing, the company said it is always evaluating opportunities to raise capital in the fixed and variable income markets. Rede D'or has hired Bank of America, JP Morgan, BTG Pactual, Bradesco BBI and XP Investimentos to manage the offering, expected for the fourth quarter. Newspapers Valor Economico and O Globo reported earlier on August 26, 2020 on Rede D'Or plans for an IPO.