Localiza to Sell New Shares to Expand Fleet, Invest in Technology
By Jeffrey T. Lewis
SAO PAULO-Localiza Rent a Car said Friday it will sell up to 67.5 million new shares to help it finance the expansion of its fleet, expand its customer service network and invest in new technology.
The Brazilian rental car company said it will initially offer 60 million new shares, and will increase the offer by as many as 7.5 million more shares if there's sufficient demand.
The subscription period for the share sale will begin on June 19 and end on June 23, with the price per share fixed on June 26, Localiza said. The shares will begin trading on June 28, according to the company.
Localiza's shares closed Thursday at 66.64 reais, the equivalent of $13.81.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
June 16, 2023 08:53 ET (12:53 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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