November 12, 2019 / 10:31 PM / in a month

Brazilian retailer Magazine Luiza prices share offering at 43 reais- sources

SAO PAULO, Nov 12 (Reuters) - Brazilian retailer Magazine Luiza SA has priced its offering on Tuesday at 43 reais per share, two sources with knowledge of the matter said.

Total value of the offering reached 4.7 billion reais ($1.13 billion), the sources added. The company will raise 4.3 billion reais with the issuance of new shares and the company’s controlling shareholders will raise 400 million reais selling part of their stake.

$1 = 4.1637 reais Reporting by Carolina Mandl and Tatiana Bautzer; Editing by Sandra Maler

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