Brazilian steelmaker, Gerdau, is raising around $3.5 billion in a stock sale, Bloomberg reports. The company will sell 68 million new common shares at $9.76 per share and 134.8 million new preferred shares at $12.05 per unit. Banco BTG Pactual, Banco Bradesco and Banco Itau are the lead managers for the sale. The Porto Alegre-based company may issue an additional 10.2 million common shares and 20.4 million preferred shares in a supplementary offer, adds Reuters.
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