Cyrela sets price range for Plano & Plano IPO

Cyrela sets price range for Plano & Plano IPO

IPO Equity Capital Markets Brazil Rule 400 Rule 144a/ RegS

Brazilian real estate developer Cyrela Brazil Realty has set the price range for the planned initial public offering (IPO) of its São Paulo-based apartment business Plano & Plano, looking to move as much as BRL1.31 billion ($235 million) in the spin-off. Cyrela put the target range at BRL11.75 to BRL15.25 per share, according to a preliminary prospectus filed with the local securities regulator CVM. If Cyrela prices the deal in the middle of the range at BRL13.50 per share and exercises the

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