PDG Pushes Equity Prospectus

Brazilian homebuilder PDG Realty has filed a preliminary prospectus for a previously announced equity follow-on. The transaction involves the sale of 56m units, which using Tuesday’s close of BRL13.75 would result in gross proceeds of BRL770m. UBS has the right to place an additional 19.6m shares, which would elevate it to BRL1.04bn. The transaction is scheduled to price October 1 via UBS Pactual, along with Itau BBA, Goldman and BofA-Merrill as co-managers.