Lupatech Raises BRL261m

Lupatech’s capital increase has reached BRL261m ($126m), it says, following subscriptions from major shareholders who had pledged to participate. The Brazilian maker of parts for the oil industry sold 65.2m shares at BRL4.00 each, with Petrobras pension fund Petros putting in for BRL105m, BNDESPar BRL80m and private equity firm GP Investimentos BRL50m. In the subscription period closed June 6, 175m shares were up for sale, as part of a plan to raise up to BRL700m agreed earlier this year. Remaing shares are to be sold through an additional round from June 13-19, at the same price. Shares closed Wednesday at BRL3.85.