JSL sells shares below estimate

JSL sells shares below estimate

Capital Markets Corporate & Sovereign Strategy Equity Rule 400 Brazil Latin America

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. XP Investimentos,

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