Iguatemi Plots Follow-on

Brazilian shopping mall operator Iguatemi is planning to raise more than BRL400m ($198m) through an equity follow-on. The issuer has taken initial steps to register the sale of 16m primary shares, it says, a transaction that would raise BRL442m at Tuesday’s BRL24.00 closing price if a 15% greenshoe is added. Bradesco, BTG Pactual, Credit Suisse and Itau have been hired to manage the sale, for which the timing remains to be determined. In February, Iguatemi raised BRL450m in the domestic bond market. It will hope to follow in the wake of peer Multiplan, which priced a well-received BRL705m follow-on last month.