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Bloomberg
Magazine Luiza SA, the Brazilian retailer that is fast becoming one of the country’s leading e-commerce providers, sold shares at 43 reais each, according to people with direct knowledge of the matter.
The company’s offering raised a total of 4.7 billion reais ($1.13 billion), including a primary sale of 100 million shares, according to one of the people, who asked not to be named
because the information isn’t public yet.
Controlling shareholders LTD Administracao e Participacoes and Wagner Garcia Participacoes also sold about 400 million reais in shares.