Brazil's Moura Dubeux files for share offering to raise up to $93 million

About this update from Moura Dubeux Engenharia Sa

Brazilian homebuilder Moura Dubeux BMFBOVESPA:MDNE3 filed for a primary follow-on share offering that could raise up to 500 million reais ($92.65 million), a securities filing showed on Thursday.The company had previously said it was considering the share offering.Moura Dubeux will initially offer 9.65 million shares, an amount that may be increased by up to 100% depending on demand.Based on Moura Dubeux's January 13 closing price, the offering would reach 500 million reais if the overallotment is fully sold.Pricing is expected on January 22.Moura Dubeux plans to use the proceeds to accelerate growth of its Unica SA subsidiary, strengthen its dividend program, and boost its working capital, it said.Itau BBA, BTG Pactual, Bradesco BBI, Santander and Safra will act as bookrunners.($1 = 5.3967 reais)

View stock analysis, news, and events for Moura Dubeux Engenharia Sa