AmBev Plans Capital Raise

Companhia de Bebidas das Americas (Ambev) plans to raise as much as BRL432m ($229m) via a private share issue to existing holders, it says. The Brazilian brewer plans to issue up to 4.26m ordinary shares at BRL51.56 each and 3.33m preferred shares at BRL63.82m each. The prices match the closing levels on January 31, the company says, and compare to BRL67.41 and BRL80.29 respective levels at Monday’s close. The offer opens Wednesday and runs through June 1. AmBev continues to expand in LatAm, recently spending $1.24bn to get control of Cerveceria Nacional Dominicana, in the Dominican Republic.