Laep Investments Ltd, the troubled Brazilian buyout
firm, will seek to raise $10 million form the sale of 40 million
Class A shares to bolster its capital, which could face negative
equity as a result of losses in a key investments, according to
a securities filing on Monday.
Shares will be sold at a unit price of $0.253, and
shareholders as of record Jan. 24 will be allowed to subscribe
new shares. The company is facing multiple lawsuits from
minority shareholders after shares fell more than 99 percent
since the company went public in Oct. 2007.