August 20, 2019
Brazilian real estate firm could issue local or international notes to accompany a capital increase
Brazil's Gafisa could sell BRL150m ($36.9m) in local or international bonds to go along with a capital increase for up to BRL273m, CEO Roberto Portella said during a conference call.
The real estate developer will sell 49m shares for BRL5.42 to BRL5.58 each to raise capital, adding to a BRL132m increase from the second quarter this year, Portella said.
Portella also said the company planned to relist its shares on the New York Stock Exchange (NYSE) "in a very short time."
Gafisa removed its shares from the NYSE in late 2018, but it still trades on the B3 stock exchange in São Paulo. Shares in Gafisa dropped 1.05% to close at BRL5.67 on Monday.