Localiza, Gafisa work out share sales

Localiza, Gafisa work out share sales

Corporate & Sovereign Strategy Equity Brazil Capital Markets Rule 476

Brazilian car rental company Localiza said it could raise up to BRL151 million ($28 million) in a follow-on offering, while real estate developer Gafisa said it is considering a share sale of its own. Localiza plans to increase capital by at least BRL33 million, but it could triple the size of the deal by selling as much as 2.74 million shares for BRL55.00 each in a private placement, it said in a filing on Friday.  The price per share stands 15% below the closing price of BRL64.60 on Friday, wh

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