BR Malls To Launch IPO

Brazilian shopping mall operator BR Malls Participações will launch an initial public offering of shares in a bid to raise up to $290 million (650 million reais). The company said it will offer 40.4 million shares and is offering a guide price of between 11 to 15 reais per share. Banco UBS Pactual is managing the sale. Last month, Iguatemi Empresa de Shopping Centers raised $224 million via its IPO, selling 2.39 million shares at 30 reais, or $14.08 per share.