June 15, 2020 / 11:23 PM / 22 days ago

Brazilian retailer Via Varejo raises $864 mln in share offering, source says

SAO PAULO, June 15 (Reuters) - Brazilian retailer Via Varejo will raise 4.45 billion reais ($864 million) with the sale of 297 million shares, one source close to the company said on Monday.

The company priced its share offering at 15 reais per share, with a 4% discount over the closing price of 15.62 reais. High demand allowed Via Varejo to raise the number of shares sold by 35%, using overallotment provisions.

Via Varejo shares rose 6.7% on Monday.

$1 = 5.1557 reais Reporting by Tatiana Bautzer; Editing by Tom Hogue

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