Lojas Renner sizes up share sale

Lojas Renner sizes up share sale

Corporate & Sovereign Strategy Debt Debenture Latin America South America Brazil Capital Markets Commerce Retail shopping Rule 476

Brazilian clothing retailer Lojas Renner said Monday could raise around BRL6.23 billion ($1.12 billion) from a follow-on equity offering to finance the construction of a new distribution center and fund the expansion of its physical stores and digital platform. Lojas Renner's board approved the sale of 102 million common shares with the option to increase the size of the deal by 35%, or 35.7 million shares, according to a securities filing. The company's shares closed at BRL45.23 on Monday, down

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