Cyrela Details Follow-On Plans

Cyrela Details Follow-On Plans

Brazil Equity

Brazilian homebuilder Cyrela will Thursday launch a roadshow to market its upcoming follow-on, scheduled to price October 27. The company says it plans to offer 43m shares, an amount that can be increased by a greenshoe of 8.6m units and a hot issue of 6.5m more. All told, the company could raise BRL1.5bn if it executes the sale at around Tuesday's closing price of BRL26.59. Cyrela shares jumped 7% Tuesday as details of its offering were digested. While it will be the sixth homebuilder to issue

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