sábado, 14 de novembro de 2009

Foreigners Buy 72.5% Of Brazil's Cyrela Share Offer

SAO PAULO (Dow Jones)--Foreign investors acquired 72.5% of the shares offered by Cyrela Brazil Realty SA (CYRE3.BR), Brazil's largest real-estate developer, through a primary share offer on the Brazilian Stock Exchange, or BMFBovespa, the company said Friday in a statement.
The company raised 1.18 billion Brazilian reals ($680 million) from the offer. Cyrela sold a total of 53.75 million shares, with each share priced at BRL22.00.
Foreign investors acquired 38.95 million shares under the offer.
Credit Suisse, Bradesco BBI, Goldman Sachs, Itau BBA and Santander coordinated the operation.
Cyrela plans to use proceeds from the sale to buy land, as well as for general corporate purposes.

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