BR Malls Set for Secondary Offer

Nearly six months after an IPO, Brazilian developer BR Malls is planning a secondary offering of 20m shares, it said in a filing. At current share price of around BRL22, the October 19 sale would bring proceeds of BRL440m. UBS Pactual, Itaú and Citi will lead the transaction. The announcement comes after American investor Sam Zell, who holds 19% of BR Malls, said he plans to invest another BRL75m in the company.