June 5, 2020 |
Brazilian retailer Via Varejo said on Thursday that it approved a follow-on share offering that could raise up to BRL4.14 billion ($810 million) on the local stock market.
Via Varejo plans to sell at least 220 million shares in a restricted offering that could be worth BRL3.07 billion, based on the closing share price on June 4. It could increase the size of the offering by 77 million shares, or 35%, which would add another BRL1.07 billion to the deal, according to a securities filing.
Brazilian retailer could raise up to $810 mln from a follow-on equity offering