Usiminas Shareholders Raise $885m

Shareholders in Brazilian steelmaker Usiminas raised $885m in a secondary offer through Merrill Lynch Wednesday. Brazilian miner CVRD, and Previ, Banco do Brasil’s employee pension fund, sold 16.399m common shares at BRL110.00 or $53.97 a share. CVRD sold 12.035m common shares, while Previ sold 4.365m common shares. Dealogic estimates that the shares priced at a 3% discount to the previous day’s trade of BRL113.45.