Azul assigns IPO target price

Azul assigns IPO target price

Brazil Equity

Azul Linhas Aereas has set the pricing terms on an upcoming IPO on the BM&FBovespa stock market in Sao Paulo and the New York Stock Exchange (NYSE).The Brazilian airline could raise as much as BRL1.66bn ($537m) if the IPO prices at the top of the range on April 6.Azul is offering up to 72m common shares for BRL19 to BRL23 each, it said in a securities filing. The airline will sell three local shares for every American Depositary Share (ADS) on the NYSE for $18.02 to $21.81.The offering inc

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