Brazilian Lands Follow-on Funds

Brazilian Lands Follow-on Funds

Brazil Equity

Brazil's Iguatemi has priced a BRL432m ($222m) equity follow-on, coming at a 2.2% discount. The shopping mall operator offered 18.4m primary shares at BRL23.50 each, including a 15% greenshoe, according to the CVM. The price compares to the BRL24.02 closing in Tuesday's session, during which the share lost 1.9%. Iguatemi expects to spend half the proceeds on greenfield projects, 30% on upgrading existing shopping centers and 20% on acquisitions. Bradesco, BTG Pactual, Credit Suisse and Itau mana

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