Mahle Ties up Equity Follow On

Brazil’s Mahle Metal Leve sold 7.5m shares held by German parent Mahle Industriebeteiligunge in a secondary offering. The BRL41 price represented a 4.7% discount to the manufacturer’s closing level Thursday of BRL43. The BRL309m follow on increased the free float to 30%, up from 12.35% before the offering. The manufacturer of parts for cars, trucks and tractors is selling shares as part of a plan to migrate to the Novo Mercado section of the Bovespa. Banco Fator, Itau,and Deutsche Bank led.