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Arezzo Sells $339M Shares

Arezzo Industria e Comercio has raised a total of $339 million in an initial public offering.

Arezzo Industria e Comercio has raised a total of $339 million in an initial public offering (IPO), Reuters reports. The Brazilian women’s shoe retailer sold 10.3 million of shares at $11.3 per share.

Arezzo will use the proceeds from the offering to open new stores and expand existing ones, to finance takeovers, to finance its working capital and for other corporate purposes. The lead underwriter of the sale was Itau BBA, while Bank of America Merrill Lynch, Credit Suisse and Barclays Capital were co-underwriters.

Click here for the story from Reuters.

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