July 24, 2020 |
Brazilian homebuilder Plano & Plano has filed for an initial public offering (IPO) and added its name to a growing list of real estate developers looking to raise capital in the local stock market.
Cyrela Brazil Realty, which owns 50% of Plano & Plano, said it intends to sell part of its stake in the IPO. Plano & Plano will also issue new shares in the offering and include its listing in the Novo Mercado index of the B3 stock exchange in São Paulo, Cyrela said in a securities filing
Brazilian homebuilder adds it names to a growing list of issuers as paper company Irani prices a share sale of its own