Cyrela To Make Share Offering

Shares in Brazilian real estate developer Cyrela rose 3% on Bovespa’s Novo Mercado Thursday after the company announced it will make a primary offering of 24.7 million common shares via the exchange. In case of strong investor demand, the company may also make a secondary offer of 3.705 million shares. Pricing is due July 19. The offering will be coordinated by Credit Suisse.