Lopes Sets FO Target

Lopes Sets FO Target

Brazil Equity

Brazilian real estate developer Lopes is eyeing October 21 for the raising of BRL150m-BRL200m in an equity follow-on, according to a prospectus. Lopes plans to sell 4.8m shares, plus a possible 15% greenshoe and 20% hot issue. The transaction would raise BRL233m at Monday’s BRL36.02 closing price in the event of the full overallotment, and BRL173m without. The issuer expects to spend about BRL50m of proceeds on purchasing a 31% stake in Rio real estate consultancy RV Patrimovil, which would give

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