Vulcabras sets re-IPO range

Vulcabras sets re-IPO range

Brazil Equity

Vulcabras Azaleia could raise as much as BRL718.4m ($227m) in a re-IPO of its stock, after bookrunners set a suggested price range between BRL8.5 and BRL10.5 per share.The Brazilian footwear company will offer roughly 60.5m primary shares and about 7.9m secondary shares, according to a prospectus seen on Brazil's securities regulator CVM.Investment funds - L4E, Suez Fund, Bartelle and the PGB fund - comprise the selling shareholders.The offering also features 10.26m shares in overallotment optio

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