Iguatemi Sets FO timing

Iguatemi Sets FO timing

Brazil Equity

Brazilian shopping mall operator Iguatemi is aiming for a June 4 pricing for a BRL470m ($235m) follow-on, according to regulatory documents. The issuer is scheduled to begin meeting investors May 14. It plans to sell 16m primary shares, meaning the transaction would raise BRL470m at Wednesday’s BRL25.52 closing price if a 15% greenshoe is included. Iguatemi expects to spend half the proceeds on greenfield projects, 30% on upgrading existing shopping centers and 20% on acquisitions. Bradesco, BTG

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