Localiza considers follow-on offering

Localiza considers follow-on offering

Equity Capital Markets Corporate & Sovereign Strategy Brazil

Brazil's Localiza said it has hired advisors to help evaluate a follow-on equity offering on the B3 stock exchange in São Paulo. The car rental company, however, has not settled on the terms of a possible share sale or received approval from the board of directors, Localiza said in a securities filing. Shares in Localiza rose 6.27% to BRL30.86 ($8.23) after the announcement. Analysts from Bradesco BBI raised the target price for Localiza's shares to BRL36, citing the possibility of a capital i

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