Lojas Renner puts price on share sale

Lojas Renner puts price on share sale

Equity Capital Markets Commerce Retail shopping Brazil

Brazilian retail chain Lojas Renner said it raised BRL3.98 billion ($732 million) for investments after pricing a follow-on equity offering at BRL39.00 per share, according to a securities filing. Porto Alegre-based Lojas Renner sold 102 million common shares to 50 institutional investors in the restricted offering, but it did not exercise an option to increase the size of the deal by 35%. The company outlined the share sale in April and said it would use the proceeds to build a new distribution

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