Iochpe Plots FO

Brazilian commercial and light vehicle parts producer Iochpe-Maxion is planning a primary equity follow-on, the company says, without giving additional details. “The realization and conclusion of the offer, as well as its exact structure, are subject to the approval by the company’s board and the conditions of the domestic and international capital markets,” the company says. Ichope needs fund for its international expansion plans. In November, it spent $195m on Mexican Grupo Galaz, and $725m on the acquisition of US-based auto-parts supplier Hayes Lemmerz. Iochpe shares closed Tuesday at BRL27.25.