September 25, 2019 / 11:47 AM / 20 days ago

Brazil homebuilder Eztec raises almost 1 billion reais in new share offer

BRASILIA, Sept 25 (Reuters) - Brazilian homebuilder Eztec has approved a restricted share offer that will raise almost 1 billion reais ($240 million), the company said in a securities filing on Wednesday.

The 27 million new ordinary shares will be priced at 36.25 reais each, raising a total of 978.75 million reais and bringing the firm’s share capital up to 2.9 billion reais.

Eztec said it will use the funds to acquire land for new developments and participate in new projects.

Eztec shares closed at 37.53 reais on Tuesday, and are up 83% so far this year. (Reporting by Jamie McGeever, editing by Louise Heavens)

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