Investors Line Up for Brazilian Mall Follow-on

Mar 28, 2013

Brazil's Multiplan has priced a BRL705m ($351m) follow-on, coming at less than 1% discount and using maximum overallotment options. The transaction was multiple times oversubscribed, according to people familiar with the terms. The mall operator priced 12.2m primary shares at BRL58.00 each, according to the CVM, versus Wednesday’s BRL58.40 closing price. The share total includes a 20% hot issue, as well as the assumed exercise of a 15% greenshoe. “Of...

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