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Azul prices Brazilian portion of IPO at 21 reais/share
April 10, 2017 / 11:25 PM / 8 months ago

Azul prices Brazilian portion of IPO at 21 reais/share

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.

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

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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