Azul takes capital raise private

Azul takes capital raise private

Equity

Brazilian airline Azul, which began work on an IPO last year, has agreed a private capital raise with existing shareholders, a move that may be followed by others. Azul’s shareholders have agreed to subscribe BRL240m of newly-created class B preference shares, according to minutes of a shareholders meeting published on Tuesday. The notes will automatically convert to ordinary shares ahead of an IPO by Azul. Such private capital raises are likely to be increasingly common as markets face continue

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