STXNEWS LATAM-Brazil's OSX sells $251 mln new stock to Batista

Wed Oct 24, 2012 8:31am EDT

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Brazilian shipbuilding and leasing company OSX Brasil SA agreed to sell 508.8 million reais ($251 million) of stock to its controlling shareholder, Brazilian billionaire Eike Batista, the company said in a statement Wednesday. The sale is the first part of a plan to raise $1 billion of new capital for the company by March 23, 2014. Batista will pay 39.38 reais, or the company's 2010 initial public offering price of 32 reais adjusted for inflation, for 12.9 million shares ($1 = 2.03 Brazilian reais)

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