Business

Brazilian retailer Lojas Americanas can raise up to BRL7B in a follow-on offering

According to the company, funds will be used in the operation of AME Digital, as well as in the capitalization of B2W and optimization of the capital structure

Brazilian retailer Lojas Americanas's website
Photo: Shutterstock
  • Brazilian retailer Lojas Americanas will sell new stocks in the Brazilian market;
  • Considering the retailer’s stock price on Friday, 3, and the demand for an additional lot in the operation, the company could raise BRL 7 billion;
  • The offer is coordinated by BTG Pactual, Itaú, and Bank of America.

Lojas Americanas announced this Monday a follow-on offering to sell 80 million common shares and 100 million preferred shares. Considering the retailer’s stock price on Friday, 3, and the demand for an additional lot in the operation, the company could raise BRL 7 billion. The base offer may move BRL 5.215 billion.

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The company informs that will address funds to its fintech AME Digital, as well as to the capitalization of B2W and optimization of the capital structure.

Lojas Americanas and B2W are also studying the possibility of a capital increase by private subscription in B2W Digital of about BRL3 billion.

The offer is coordinated by BTG Pactual, Itaú, and Bank of America. According to Lojas Americanas, Goldman Sachs, Morgan Stanley, Bradesco, Santander, and Safra also took part.