Manufacturer Reboots Equity Plan

Manufacturer Reboots Equity Plan

Brazil Equity

Brazil’s Tupy has restarted plans for an equity follow-on, according to the CVM, after postponing earlier this year a deal expected to raise as much as BRL1bn ($410m). The iron parts manufacturer plans to offer primary shares, as well as secondary shares owned by BNDES and the Previ and Telos pension funds. The exact target size and timing has not been indicated, though a refiling now would have it ready to hit the September-October window if market conditions allow. Banco do Brasil, Brasil Plur

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