STXNEWS LATAM-Brazil's Multiplan registers new share offering

Mon Feb 18, 2013 8:03am EST

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Brazilian mall operator Multiplan Empreendimentos Imobiliarios SA registered on Monday to issue around nine million new common shares, worth about 490 million reais ($250 million) at Friday's closing price.

Current shareholders will have priority over a third of the new shares, according to a securities filing. Controlling owners have already expressed their intention to buy about 100 million reais ($51 million) of the new common shares.

The company said the share offering will help fund growth, strengthen its capital and allow faster work on new projects.

($1 = 1.96 Brazilian reais) (Reporting by Alberto Alerigi Jr.)

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