September 10, 2020 |
Brazilian logistics company JSL raised BRL694 million ($131 million) in a follow-on offering but priced the deal below the estimated price range, according to a securities filing on Wednesday.
JSL said it sold 72.3 million common shares for BRL9.60 each, although it had put the target range at BRL11.07 to BRL14.44 per share. As a result, parent company Simpar did not exercise its option to increase the size of the offering by 20%, or 14.5 million shares, JSL said in the filing.
Brazilian logistics company raises $131 mln in follow-on offering but falls short of the target price range