Monday, September 26

Brazil truck rental co Vamos raises $124 mln in share offering

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SAO PAULO — Brazilian truck rental company Vamos Locacao de Caminhoes Maquinas e Equipamentos SA has raised 641.43 million reais ($124.03 million) in a follow-on share offering, a securities filing showed on Thursday.

The offering was priced at 13.25 reais per share, Vamos said, a 2.6% discount over Wednesday’s closing price of 13.61 reais.

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Controlled by holding company Simpar SA, Vamos had announced the offering earlier this month, saying the proceeds would be used for investments in organic growth and to buy more trucks and machinery.

The firm issued a total 48.41 million new common shares. The offering could have been increase by 50% in case of high demand, but it wasn’t.

BTG Pactual, Bradesco BBI, Itau BBA, JPMorgan, Santander, UBS and XP Investimentos managed the offering.

Shares in Vamos are up 13.6% so far this year.

($1 = 5.1716 reais) (Reporting by Gabriel Araujo; Editing by Mark Potter and Mark Porter)

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