April 20, 2021 |
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
Brazilian retailer could raise up to $1.1 bln to build a new distribution center, open stores and invest in its digital platform