xx STXNEWS LATAM-Brazil's Tupy raises $242 mln in re-IPO
Tupy SA, Latin America's largest foundry, raised on Wednesday about 524 million reais ($242 million) in an equity offering aimed at boosting trading of the company's shares. Tupy, which listed its shares for the first time in 2002, sought to complete a so-called re-IPO to increase the number of shares outstanding. The company sold 29.942 million shares at a price of 17.50 reais each, according to the website of Brazil's securities industry watchdog CVM.
The company hired the investment-banking units of Banco do Brasil SA, Brasil Plural Banco Múltiplo, Citigroup Inc, Itaú Unibanco Holding SA and Grupo BTG Pactual SA to manage the deal.
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