November 27, 2019
Brazil's Marisa Lojas could raise up to BRL659 million ($155 million) in a follow-on offering on the B3 stock exchange in São Paulo, based on the share's closing price on Tuesday.
The department store chain said it will sell 61.5 million shares next week and has allowed the underwriters to sell an additional 5.21 million shares to meet demand, according to a securities filing.
Marisa said earlier this month that it had hired four banks – Itaú BBA, Bradesco BBI, Bank of America and BB Investiment
Brazilian department store could move more than $155 mln in follow-on offering