Brazil's Moura Dubeux raises $91.3 million in share offering

About this update from Moura Dubeux Engenharia Sa

Brazilian homebuilder Moura Dubeux BMFBOVESPA:MDNE3 raised 482.63 million reais ($91.33 million) in an offering that priced shares at 25 reais each, it said in a securities filing late on Thursday.The price represents a discount of about 1.6% from the company's Thursday closing price.Moura Dubeux said last week it had filed for the share offering.It initially offered 9.65 million new shares, but an overallotment of up to 100% was also fully sold due to strong demand.Moura Dubeux plans to use the proceeds to accelerate growth of its Unica SA subsidiary, strengthen its dividend program, and boost its working capital.Itau BBA, BTG Pactual, Bradesco BBI, Santander and Safra acted as bookrunners.Local news outlet Brazil Journal first reported the pricing on Thursday.($1 = 5.2844 reais)

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