Multiplan Timing Emerges

Brazil’s Multiplan is to begin investor meetings March 15 ahead of an equity follow-on targeting more than BRL550m ($279m), with pricing scheduled for April 4. To raise funds for growth, the mall operator is planning on selling 10.4m shares, assuming a 15% greenshoe, according to regulatory documents. This would indicate a BRL582m deal based on Monday’s BRL55.96 closing price. A 20% hot issue would also be possible. Bank of America Merrill Lynch, Bradesco, BTG Pactual, Credit Suisse and Itau are managing. Multiplan’s last widely-marketed visit to the ECM was in 2009, raising BRL670m, which it followed with a BRL122m accelerated bookbuild in 2010.