trending Market Intelligence /marketintelligence/en/news-insights/trending/xc5tEgJ1H3elYVqSkxXU1w2 content esgSubNav
In This List

Gafisa plans up to 300M reais capital increase

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Gafisa plans up to 300M reais capital increase

Gafisa SA is proposing an up to 300.0 million-reai capital increase through a private issuance of at most 20.0 million new common shares at 15 reais apiece.

At the minimum, the company will offer 13,333,334 new common shares for expected proceeds of 200.0 million reais. The proceeds will be used for working capital and to reduce the company's debts, among other uses.

The proposal will be up for approval at the shareholder meeting to be held Dec. 20.

Shareholder Wishbone Management LP with Conifer Capital Management LLC and investment funds under management of their affiliates are expected to exercise their pre-emptive right and subscribe for at least 200.0 million reais, according to a release from Gafisa.

As of Dec. 11, US$1 was equivalent to about 3.30 Brazilian reais.