Brazil Real Estate Readies Equity Follow-Ons

Brazil Real Estate Readies Equity Follow-Ons

Brazil

Brazilian homebuilder Direcional Engenharia and broker Brasil Brokers are each preparing a follow-on offering. Others in the sector – builder Tecnisa has also recently announced plans for a follow-on – are looking to raise funds after share prices have risen along with the Bovespa in recent months, following weakness earlier in the year. Direcional plans to sell primary and secondary shares, targeting about BRL450m. About 80% of the offer will be new units, as Direcional looks to raise funds for

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