Duratex Raises $260 Million Via Share Offering

Brazilian manufacturer Duratex has raised $260 million via a share offering on the São Paulo Stock Exchange. The company sold a total of 12.761 million shares, comprising 4.5 million common shares through a primary offering and 8.261 million preferred shares in a secondary offering. Shares were valued at 43.50 reales each and were sold to investors in Brazil and to qualified investors in the US under Rule 144a. Duratex, owned by Itaúsa Group, manufactures wood products, sanitary vitreous chinaware and metal fittings aimed at the furniture industry and the civil construction sectors.