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Helbor Empreendimentos to sell 140 million common shares in private subscription

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Helbor Empreendimentos to sell 140 million common shares in private subscription

Helbor Empreendimentos SA plans to issue up to 140 million shares at 2 reais apiece through a private subscription.

Hélio Borenstein SA Administração, Participações e Comércio and Henrique Borenstein, which qualify as related parties, have agreed to acquire 75,533,385 shares. If the maximum amount of shares are subscribed for, the company's capital will increase to roughly 1.21 billion reais from approximately 926.4 million reais.

Funds raised will be used to increase liquidity, reduce leverage and strengthen the company's cash position.

As of Oct. 10, US$1 was equivalent to 3.16 Brazilian reais.