Multiplan Lands Follow-On Funds

Brazilian homebuilder Multiplan has priced its follow-on at BRL26.50, a 1.5% discount to its BRL27.00 closing price Thursday. The deal includes the sale of 26m shares to raise BRL689m for the company, according to bankers on it. Controlling shareholders opted not to increase the deal to avoid additional dilution, they add. The book is heard to have grown to as many as 5x the offering size, says an investor watching the issue. That allowed for a tight discount to the close he adds. Multiplan’s stock traded up 8% since it announced plans to issue a follow-on, and closed up 1.89% the day of pricing. The deal was led by UBS Pactual, Credit Suisse and Morgan Stanley.