BRIEF-Helbor Empreendimentos to run capital hike of up to BRL 120 million

jueves 22 de septiembre de 2016 12:44 GYT

Sept 22 (Reuters) - Helbor Empreendimentos SA :

* Said on Wednesday its board of directors approved to run a share capital increase of up to 120.0 million Brazilian reais ($37.3 million), that is from 806.4 million reais to 926.4 million reais, through a private issue of up to 68.2 million new ordinary shares

* Controlling shareholders have agreed to subscribe to between 36.6 million and 39.8 million new shares

* Price of the share issue is 1.76 real

* To ratify the increase in case of subscription for at least 56.8 million shares, corresponding to 100.0 million reais

* Intends to increase the capital in order to reduce net debt and current level of leverage

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($1 = 3.2155 Brazilian reais) (Gdynia Newsroom)