Homebuilder Follow-On Fates Diverge

Homebuilder Follow-On Fates Diverge

Brazil Equity

Two Brazilian homebuilders priced follow-ons last night, but only one emerges victoriously. PDG Realty and Rossi Residencial operate in what investors are calling a positive environment for Brazilian homebuilding, given strong internal demand, falling interest rates and a robust low-income initiative by the government. But PDG, whose stock has more than doubled since its IPO, is the only one of the two that has consistently drawn investor praise in the days leading up to pricing. In line with th

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