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Azul prices Brazilian portion of IPO at 21 reais/share
April 10, 2017 / 11:25 PM / 5 months ago

Azul prices Brazilian portion of IPO at 21 reais/share

An Azul aircraft prepares for departure at Congonhas airport in Sao Paulo, Brazil, November 24, 2015. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - Azul SA, Brazil’s No. 2 domestic airline, priced the domestic portion of a dual-country initial public offering at 21 reais per preferred share on Monday.

According to information on the website of Brazil’s securities industry watchdog CVM, Azul sold 63 million preferred shares at the mid-point of a suggested price range of between 19 reais and 23 reais. The domestic portion fetched a total of 1.323 billion reais ($422 million) for Azul and seller shareholders, according to the CVM.

Reporting by Guillermo Parra-Bernal; Editing by Sandra Maler

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