Fras-le moves ahead with follow-on to fund acquisitions

Fras-le moves ahead with follow-on to fund acquisitions

Equity

A follow-on equity sale for Brazilian vehicle part maker Fras-le could raise BRL247.6m to BRL294.3m, excluding greenshoe or hot issue allocations. The firm plans to use the funds for acquisitions, either in Brazil or abroad. The firm said on Friday that it expects to price the deal at BRL5.3 to BRL6.3 per share. It is offering 34.5m primary shares, and six shareholders are offering 12.2m in a secondary offering. Shareholders participating in the secondary sale are pension funds Previ and Petros

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