March 25, 2013
Brazil’s Multiplus is targeting more than $400m in an equity follow-on it,
Brazil’s Multiplus is targeting more than $400m in an equity follow-on it, says. The frequent flyer rewards program of Brazilian airline TAM plans to sell 31m primary shares, meaning a BRL850m ($425m) sale at Friday’s BRL27.42 closing price. The total assumes a 15% greenshoe. A roadshow is set to begin April 1, ahead of a pricing scheduled for April 12. The issuer is raising funds to buy passenger reward assets from TAM. Bank of America, BTG Pactual and JPMorgan are managing.