Magazine Luiza shapes share sale

Magazine Luiza shapes share sale

Equity IPO Capital Markets Asset Management Funds Brazil Rule 144a/ RegS

Brazil's Magazine Luiza said it plans to carry out a follow-on offering on the B3 stock exchange in São Paulo, selling as many as 120 million common shares in the company.The retail chain could earn more than BRL5.36 billion ($1.33 billion) from the deal, based on the closing share price on Thursday. The shares briefly touched a 52-week high of BRL44.70 after Magazine Luiza announced the deal and closed at BRL44.64, up 1.41% on the day.Magazine Luiza said it will sell at least 90 million new sha

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