IRSA raises funds in share sale

IRSA raises funds in share sale

Corporate & Sovereign Strategy Equity Commerce Retail shopping Latin America South America Argentina

Argentine real estate developer IRSA Inversiones y Representaciones raised about ARS4.7 billion ($50 million) in the sale of 80 million new shares to refinance debt and make investments. IRSA sold the shares to existing shareholders at an initial indicative price of ARS54.41 each during a preferential period that ended May 6, the company said in a securities filing late on Thursday. The latest indicative price, reported on May 4, was ARS58.35 per share, pushing up the total amount of the deal. T

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