FFollow-on equity sales held up a bit better than their IPO counterparts, and certain blue-chip issuers were able to make use of them even when the IPO markets were firmly closed in the second half of 2011.
Gerdau’s 4.99 billion real ($3.14 billion) follow-on in April stood out not only as the largest equity deal of 2011, but as a particularly complex structure involving two different share classes.
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