Shopping-center administrator, Sonae Sierra Brasil, has sold a 57% stake in its initial public offering (IPO) to international investors, The Wall Street Journal reports. The Brazilian company raised a total of $279 million from the offering.

As a part of the deal, Sonae Sierra sold 23.25 million shares, out of which global investors acquired 13.26 million shares. Credit Suisse, Itau BBA and JP Morgan Chase coordinated the sale.

Click here for the story from The Wall Street Journal.