Locaweb funds acquisitions with follow-on

Locaweb funds acquisitions with follow-on

Capital Markets Corporate & Sovereign Strategy Equity Brazil Latin America

Brazilian web services company Locaweb said it moved BRL2.75 billion ($511 million) in a follow-on equity offering on Tuesday, a year after it raised BRL1.33 billion in an initial public offering (IPO) on the B3 stock exchange in São Paulo. São Paulo-based Locaweb priced the shares at BRL30.00 each and earned BRL2.35 billion from the sale of 78.2 million new shares. Selling shareholders, meanwhile, got BRL408 million for 13.6 million existing shares, according to a securities filing.  In early F

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