Rumo wraps up share sale

Rumo wraps up share sale

Brazil Equity

Rumo has wrapped up a primary share sale, raising BRL2.64bn ($842m) in a follow-on equity offering. The Brazilian logistics provider offered 220m new shares for BRL12 apiece, according to a securities filing from the company. Conducted under Brazil's Rule 476 restricted offering code, the sale raises Rumo's market cap to BRL9.65bn, consisting of 1.56bn common shares. Rumo's shares were spotted at BRL12.25 on Thursday afternoon, down 3% on the day's trading. In the build up to the equity sale, ho

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