Brazil's Gerdau plans 10 mln preferred share buyback

martes 9 de agosto de 2016 16:53 GYT

SAO PAULO Aug 9 (Reuters) - Brazilian steelmaker Gerdau SA plans to buy back 10 million preferred shares or American Depository Receipts from Aug. 11, the company said in a filing published on Tuesday.

The number of shares represents 1.13 percent of outstanding preferred shares in circulation and the buy-back program will last for one month, it said. (Reporting by Reese Ewing; Editing by David Gregorio)