Gol Taxis for Equity Takeoff

Brazilian airline Gol plans to sell 51.8m shares on October 8, according to a preliminary prospectus filed with the CVM. The company originally stated its intentions to raise equity in late August. It plans to sell 34.6m new shares, half of which will be common and the rest preferred, as well as 17.26m secondary units. Using an average price of BRL18.8m, the company estimates gross proceeds from the deal will total BRL974m. Gol has hired Itau BBA as a lead and BofA-Merrill as joint lead and so-called stabilizing agent. Morgan Stanley, Bradesco BBI and Banco do Brasil are also slated as joint leads.