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Suzano Lands FO on Rough Day

Jun 28, 2012

Suzano Papel e Celulose has priced a BRL1.48bn ($712m) follow-on equity sale, coming at a slight discount after seeing shares fall 7.5% Wednesday due to an analyst price estimate cut. The Brazilian pulp and paper producer sold 119.6m common shares and 250.1m preferred shares, at BRL4.00 each, according to the CVM. The all-primary share total assumes the exercise of overallotments...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management