January 28, 2022
Brazilian footwear company Arezzo&Co said Thursday that it expects to raise up to BRL829 million ($153 million) in a follow-on equity offering to fund long-term investments, including new stores and possible acquisitions.
Based on the closing share price on Wednesday, Arezzo said it intends to raise at least BRL614 million from the sale of 7.5 million new shares, but it added that it could increase the size of the offering by 35%, or 2.63 million shares. It expects to price the shares on Feb
Brazilian shoe seller could earn $153 mln to open new stores and pursue possible acquisitions