Even prices Melnick IPO at low end

Even prices Melnick IPO at low end

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

Brazilian homebuilder Even Construtora e Incorporadora moved BRL714 million ($128 million) in the initial public offering (IPO) of its subsidiary Melnick Even Desenvolvimento Imobiliário after it priced the deal at the bottom end of the target range, according to a securities filing. Melnick earned BRL621 million from the sale of 73 million new shares for BRL8.50 each, while shareholders Even and Melnick Participações got BRL93.1 million from the sale of 11 million shares in a secondary offering

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