Brazilian tableware glass manufacturer Nadir Figueiredo wants to carry out an initial public offering in order to raise funds for growth and acquisitions.

The Suzano, Sao Paulo-based glass producer (pictured above) has asked for an endorsement to carry out the IPO, in preparation for its return to the stock market.

In a preliminary prospectus, it reported net revenue of 894.1 million reais ($164.4 million) in 2020, up 12.7% over the previous year.

"The demand for products for sale to the final consumer offset the impact suffered by the closing of bars, hotels and restaurants," it said in the document.

The company says in the prospectus that it will use proceeds from the sale of new shares to invest in organic growth and for acquisitions.

The IPO, which will be coordinated by BTG Pactual, Bank of America, Ita├║ BBA and Bradesco BBI, will also serve for FIP Kilauea to sell a stake in the business. The private equity fund HIG Capital LLC has controlled the company since July 2019.