Many companies in
Brazil are lining up to raise money through
initial public offerings, or IPOs, due to a growing positive outlook for the country’s economy, the
Wall Street Journal reported.
Ecorodovias Infraestrutura e Logistica SA, a Brazilian tool-road operator, announced plans to raise between 1.12 billion and 1.5 billion Brazilian reais ($640 million and $830 million) through an IPO on the Brazilian Stock Exchange, according to the Journal.
The IPO is expected to begin on April 1 and the company is set to offer 125.2 million common shares at between nine reais and 12 reais each, the Journal reported. This IPO is just the latest in a series of offerings this year in Brazil.
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