Magazine Luiza, Shareholders May Raise 1.43 Billion Reais in Brazil IPO

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  • Posted on April 7, 2011


    Magazine Luiza SA, a Brazilian electronic goods and furniture retailer, and its shareholders may raise as much as 1.43 billion reais in an initial public offering in Brazil, according to a prospectus published in Valor Economico today.

    The company plans to sell as many as 67.9 million common shares at 16 reais to 21 reais each, according to the prospectus. The share is scheduled to be priced on April 28 and begin trading on May 2.

    Banco Itau BBA SA is coordinating the sale.

    To contact the reporter on this story: Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net

    To contact the editor responsible for this story: Telma Marotto at tmarotto1@bloomberg.net

    Bloomberg/AC