CVC prices shares at discount in follow-on

CVC prices shares at discount in follow-on

Corporate & Sovereign Strategy Equity Brazil Capital Markets Tourism

Brazilian tourism and travel company CVC said Friday that it raised BRL402 million ($76.6 million) in a follow-on offering after pricing its shares at BRL7.70 each, a 15% discount on the closing price from the previous day. Santo André-based CVC issued 52.3 million new shares in the offering, including an additional lot of 5.81 million shares, it said in a securities filing. The new shares begin trading on Monday, it added. The company said it will use the proceeds to add to working capital and

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