Tag Archives: Secondary Stock Offer / Issue

BNDES Brasil received an offer from AES Corp for the shares of Aes Tietê: sources | Instant News


RIO DE JANEIRO / SAO PAULO (Reuters) – BNDES Participacoes Brazil [BNDESP.UL], a holding company for Brazilian state bank BNDES, has received a rival offer from AES Corp (AES.N) for its shares in AES Tiete Energia SA (TIET11.SA), according to three sources.

AES Corp has offered to buy 65% ​​of BNDES shares in AES Tiete for 17.15 per share, one source added. After this partial sale, BNDES will reduce its ownership in the company to 9.9% from 28.41%.

BNDES believes the bid by AES Corp could beat the 7.5 billion reais ($ 1.43 billion) bid made by Brazilian electricity company Eneva SA (ENEV3.SA), and will now analyze it, said the source. BNDES can make a decision this week, said the source.

AES Corp offered to pay BNDES in cash, while Eneva’s offer offered AES Tiete shareholders cash and new shares after the two companies merged. BNDES, which aims to sell its shares in AES Tiete, will remain with 8.3% in the new company.

The Valor Economico newspaper reported earlier about AES Corp’s offer.

Reported by Rodrigo Viga Gaier, edited by Louise Heavens

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Farmacias Nissei from Brazil hires banks to raise $ 192 million in IPO: blog | Instant News


SAO PAULO (Reuters) – Brazilian drugstore chain Farmacias Nissei has employed four banks to manage initial public offerings (IPOs) aimed at increasing 1 billion reais ($ 192 million), the Brazilian Journal’s financial blog reported on Friday, citing sources that did not mentioned by name.

The company, which is said to be a leading drugstore chain in the southern state of Parana, plans to use the proceeds to fund organic growth and pay off debt with US investment company Farallon Capital Management LLC, the publication said.

Farmacias Nissei is expected to submit its IPO request to the CVM securities regulator in mid-September and prices are likely to occur by the end of the year, the Brazil Journal said.

Banco Safra, Merrill Lynch and Itau Unibanco SA investment banking unit (ITUB4.SA) and BTG Pactual (BPAC3.SA) managing stock quotes, which are likely to be the main ones, the blog said.

Nissei was not immediately available to comment on the blog report.

The company ended 2019 with 305 drug stores, according to the Brazil Journal, and a net income of 1.5 billion reais.

Reporting by Gabriela Mello; editing by Jason Neely

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BTG Brazil raised $ 400 million to challenge rival XP | Instant News


FILE PHOTOS: BTG Pactual bank headquarters depicted in Sao Paulo, Brazil 3 October 2019. REUTERS / Amanda Perobelli

SAO PAULO (Reuters) – Brazilian investment bank BTG Pactual (BPAC3.SA) plans to increase about 2 billion reais ($ 376.61 million) through a stock offering to increase its digital retail banking, according to securities filing on Monday.

The bank said it aims to sell 28.5 million new units, consisting of one common share and two preferred shares. Including the whole, the offer can reach 35.6 million units.

The results will be used to expand the newly launched digital consumer banking platform while maintaining a high level of capitalization, BTG said.

The BTG move comes as part of a competitor who is registered on Nasdaq XP Inc. (XP.O) has jumped nearly 23% this year because retail digital brokers have attracted clients and new assets at breakneck speed. At present, XP’s market capitalization is almost half of Brazil’s biggest lender, Itau Unibanco Holding SA (ITUB4.SA), who is also a shareholder in the broker.

Chief Executive Roberto Sallouti said in May that BTG saw strong business opportunities to complement retail banking units, including the acquisition of small competitors.

BTG will set a price per unit on June 29. Units in BTG Pactual ended the trading day on Friday at 72 reais, down 4.6% this year.

BTG, Bradesco BBI SA, Itau BBA SA and Banco Santander Brasil SA will manage this offer.

(This story corrects the pricing date to June 29, not June 26)

Reporting by Carolina Mandl, editing by Louise Heavens and Nick Zieminski

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RPT-Fashion application sells unwanted stock to help Bangladeshi workers | Instant News


(Repeating additional customers)

By Naimul Karim

DHAKA, June 2 (Thomson Reuters Foundation) – A British shopping app raises money to help garment workers who are struggling in Bangladesh by selling clothes thrown away by global fashion brands when the coronavirus crisis destroys their sales.

Under the Lost Stock Mallzee initiative, a clothing box – with the brand label removed – sells for 35 pounds ($ 44), with 37% of the retail price donated to charities that supply food and other items for clothing workers affected by layoffs and wages which is not paid.

“We have industry contacts to be in a perfect position to connect consumers with canceled stocks that support garment workers and help avoid clothing that ends up in landfill,” said Melanie Gray, a spokesman for Edinburgh-based Mallzee.

Labor advocates in Bangladesh welcomed Mallzee’s efforts but expressed concern that such an initiative could leave big brands free of canceled mass orders that put the livelihoods of thousands of workers at risk.

“I appreciate this. But why should our workers live with charity?” Kalpona Akter, founder of the Bangladesh Workers Solidarity Center, told the Thomson Reuters Foundation.

“It will be very appreciated if they (Mallzee) can press the brand and ensure that they pay.”

Millions of Bangladeshi households depend on the garment sector, which has been hit by a pandemic. Exports fell 84% in the first half of April because orders worth $ 3 billion were canceled or suspended, according to factory owners.

As the industry staggered in the blows, Rubana Huq, president of the Bangladesh garment producers and exporters association, said a scheme like Lost Stock was “a must.”

Last week, Bangladeshi manufacturers said they would blacklist Western fashion brands that “exploit” them by failing to pay their bills due to the coronavirus crisis, days after threatening to sue major British retailers for their debts.

Several producers have struggled to wipe out employee contributions in the past two months due to cancellations, and hundreds of unpaid garment workers protested on the streets last month.

Since launching the program two weeks ago, Mallzee has sold 80,000 boxes of clothing, far exceeding its goal of selling 10,000, Gray said.

He said the company had raised enough funds to supply food packages and sanitation products to help 80,000 garment workers and their families.

Mallzee works in partnership with Sajida Foundation, a Bangladeshi NGO, which plans to start distributing aid packages next month.

“We are in the process of making a list of garment workers who need help. This can support them for two months, “said Muhymin Chowdhury, a spokesman for the Sajida Foundation.

The researchers said charity efforts would not be enough to support workers in the long run, urging the government to work with factory owners to create a social safety net for garment industry employees. (Reporting by Naimul Karim @ Naimonthefield; Editing by Helen Popper. Please give credit to the Thomson Reuters Foundation, the Thomson Reuters charity, which covers humanitarian news, women’s rights and LGBT +, human trafficking, property rights and climate change. Visit http: //news.trust.org)

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Fashion application sells unwanted stock to help Bangladeshi workers | Instant News


DHAKA, June 2 (Thomson Reuters Foundation) – A British shopping app raises money to help garment workers who are struggling in Bangladesh by selling clothes thrown away by global fashion brands when the coronavirus crisis destroys their sales.

Under the Lost Stock Mallzee initiative, a clothing box – with the brand label removed – sells for 35 pounds ($ 44), with 37% of the retail price donated to charities that supply food and other items for clothing workers affected by layoffs and wages which is not paid.

“We have industry contacts to be in a perfect position to connect consumers with canceled stocks that support garment workers and help avoid clothing that ends up in landfill,” said Melanie Gray, a spokesman for Edinburgh-based Mallzee.

Labor advocates in Bangladesh welcomed Mallzee’s efforts but expressed concern that such an initiative could leave big brands free of canceled mass orders that put the livelihoods of thousands of workers at risk.

“I appreciate this. But why should our workers live with charity?” Kalpona Akter, founder of the Bangladesh Workers Solidarity Center, told the Thomson Reuters Foundation.

“It will be very appreciated if they (Mallzee) can press the brand and ensure that they pay.”

Millions of Bangladeshi households depend on the garment sector, which has been hit by a pandemic. Exports fell 84% in the first half of April because orders worth $ 3 billion were canceled or suspended, according to factory owners.

As the industry staggered in the blows, Rubana Huq, president of the Bangladesh garment producers and exporters association, said a scheme like Lost Stock was “a must.”

Last week, Bangladeshi manufacturers said they would blacklist Western fashion brands that “exploit” them by failing to pay their bills due to the coronavirus crisis, days after threatening to sue major British retailers for their debts.

Several producers have struggled to wipe out employee contributions in the past two months due to cancellations, and hundreds of unpaid garment workers protested on the streets last month.

Since launching the program two weeks ago, Mallzee has sold 80,000 boxes of clothing, far exceeding its goal of selling 10,000, Gray said.

He said the company had raised enough funds to supply food packages and sanitation products to help 80,000 garment workers and their families.

Mallzee works in partnership with Sajida Foundation, a Bangladeshi NGO, which plans to start distributing aid packages next month.

“We are in the process of making a list of garment workers who need help. This can support them for two months, “said Muhymin Chowdhury, a spokesman for the Sajida Foundation.

The researchers said charity efforts would not be enough to support workers in the long run, urging the government to work with factory owners to create a social safety net for garment industry employees. (Reporting by Naimul Karim @ Naimonthefield; Editing by Helen Popper. Please give credit to the Thomson Reuters Foundation, the Thomson Reuters charity, which covers humanitarian news, women’s rights and LGBT +, human trafficking, property rights and climate change. Visit http: //news.trust.org)

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FACTBOX-Companies in Australia, NZ raised more than $ 17 billion to overcome the coronavirus crisis | Instant News


    * Interactive graphic tracking global spread of the coronavirus: open tmsnrt.rs/3aIRuz7 in an
external browser
    * Interactive graphic showing a country-by-country tracker of the coronavirus: open tmsnrt.rs/2WZPuOh
 in an external browser
    * For a factbox detailing layoffs in corporate Australia and New Zealand, click here

 (Adds Vicinity Centres, Atlas Arteria; updates NAB)
    June 1 (Reuters) - The fallout from the coronavirus pandemic has sent companies scrambling to raise
capital to create a buffer to survive the crisis.
    Companies in Australia and New Zealand have largely turned to equity markets to boost liquidity and
calm worries among investors and creditors. Regulators in both countries have also eased rules to help
companies shore up capital.
    Here are some of the equity-and debt-raising initiatives, worth more than $17 billion, from listed
companies in Australia and New Zealand: 
        
  EQUITY:
                 COMPANY                    REUTERS              AMOUNT                    SECTOR
                                           INSTRUMENT        ($1 = A$1.4934)       
                                              CODE         ($1 = NZ$1.6300)        
                                                                                              
                AUSTRALIA                                                                     
 National Australia Bank Ltd                                 A$4.25 billion*             Financials
 Ramsay Health Care Ltd                                      A$1.4 billion*             Healthcare 
 Vicinity Centres                                            A$1.4 billion*                 REIT
 Oil Search                                                  A$1.16 billion         Oil and gas explorer
 Lendlease Group                                             A$1.15 billion*              Property
 Newcrest Mining                                             A$1.10 billion*               Mining
 Cochlear Ltd                                                A$1.1 billion               Healthcare
 QBE Insurance Group                                          $825 million               Insurance
 NextDC Ltd                                                  A$863 million          Data Centre operator
 Flight Centre Travel Group                                   A$700 million*               Travel
 Incitec Pivot Ltd                                           A$675 million*             Fertilisers 
 Reece Ltd                                                   A$647 million          Plumbing distributor
 Atlas Arteria                                               A$495 million*          Toll road operator
 Webjet Ltd                                                   A$346 million*               Travel
 National Storage REIT                                       A$330 million*            Storage centre
                                                                                         operator 
 Metcash Ltd                                                 A$330 million*         Grocery distributor
 G8 Education                                                 A$301 million*             Education
 Charter Hall Retail REIT                                    A$300 million*                 REIT
 IDP Education Ltd                                           A$240 million*              Education
 Southern Cross Media Group Ltd                              A$169 million                 Media
 oOh!media Ltd                                                A$167 million*            Advertising
 United Malt Group Ltd                                       A$165 million*                 Malt
 InvoCare Ltd                                                A$150 million            Funeral Services
 Centuria Industrial REIT                                    A$140 million*                 REIT
                                                                                            REIT
                                                                                              
             AUSTRALIA TOTAL                                  $12.60 billion                  
                                                                                              
               NEW ZEALAND                                                                    
 Auckland Airport                                            NZ$1.2 billion*               Travel
 Z Energy                                                    NZ$350 million*          Fuel Distributor
 Kathmandu Holdings Ltd                                       NZ$207 million*              Retail
                                                                                              
            NEW ZEALAND TOTAL                                $1.08 billion                    
                                                                                              
  TOTAL ACROSS AUSTRALIA AND NEW ZEALAND                     $13.68 billion                   
                                                                                              
    Notes:
    * Includes announced share purchase plan 
        
  DEBT:
                 COMPANY                    REUTERS              AMOUNT                    SECTOR
                                           INSTRUMENT        ($1 = A$1.5591)       
                                              CODE         ($1 = NZ$1.6300)        
                                                                                              
                AUSTRALIA                                                                     
 Qantas Airways                                              A$1.60 billion               Airline
 Crown Resorts                                               A$1.01 billion               Casinos 
 Sydney Airport Holdings Ltd                                 A$850 million            Airport operator
 Boral Ltd                                                   A$565 million         Building product maker
 Stockland Corp                                              A$350 million                Property
 Viva Energy REIT                                            A$275 million                  REIT
 Cochlear                                                    A$250 million^              Healthcare
 National Storage REIT                                       A$225 million             Storage centre
                                                                                         operator 
 Star Entertainment Group                                    A$200 million                Casinos 
 Flight Centre Travel Group                                  A$200 million                 Travel
 IDP Education Ltd                                           A$150 million               Education
 Super Retail Group                                          A$100 million                 Retail
                                                                                              
             AUSTRALIA TOTAL                                 $3.58 billion                    
                                                                                              
               NEW ZEALAND                                                                    
 Spark New Zealand                                           NZ$150 million               Telecom
 Z Energy                                                    NZ$150 million           Fuel Distributor
                                                                                              
            NEW ZEALAND TOTAL                               $184.05 million                   
                                                                                              
  TOTAL ACROSS AUSTRALIA AND NEW ZEALAND                     $3.76 billion                    
                                                                                              
    Note:
    ^ Talks ongoing for portion of total

    
 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Christian Schmollinger, Subhranshu Sahu and
Sherry Jacob-Phillips)
  

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FACTBOX-Companies in Australia, New Zealand raise capital to overcome the coronavirus crisis | Instant News


    * Interactive graphic tracking global spread of the coronavirus: open tmsnrt.rs/3aIRuz7 in
an
external browser
    * Interactive graphic showing a country-by-country tracker of the coronavirus: open tmsnrt.rs/2WZPuOh
 in an external browser
    * For a factbox detailing layoffs in corporate Australia and New Zealand, click here

    April 14 (Reuters) - The fallout from the coronavirus pandemic has sent companies scrambling to
create a buffer to survive the crisis through capital raising.
    Companies in Australia and New Zealand have largely turned to equity markets to boost liquidity and
calm worries among investors and creditors. Regulators in both countries have also eased rules to help
companies shore up capital.
    Here are some of the equity- and debt-raising initiatives, worth nearly $7 billion in total, from
listed-companies in Australian and New Zealand:
    
  EQUITY: 
                 COMPANY                    REUTERS              AMOUNT                   SECTOR
                                           INSTRUMENT        ($1 = A$1.5625)       
                                              CODE         ($1 = NZ$1.6369)        
                                                                                             
                AUSTRALIA                                                                    
 Cochlear Ltd                                               A$930 million*              Healthcare
 Webjet Ltd                                                 A$346 million**               Travel
 Flight Centre Travel Group                                 A$700 million**               Travel
 NextDC Ltd                                                  A$672 million         Data Centre operator
 Oil Search                                                  A$1.16 billion        Oil and gas explorer
 oOh!media Ltd                                              A$167 million**            Advertising
 IDP Education Ltd                                           A$240 million*             Education
 Reece Ltd                                                   A$600 million         Plumbing distributor
 Southern Cross Media Group Ltd                              A$169 million                Media
 G8 Education                                               A$301 million**             Education
 Centuria Industrial REIT                                    A$140 million*                REIT
 QBE Insurance Group                                         $825 million*              Insurance
 InvoCare Ltd                                                A$150 million           Funeral Services
                                                                                             
             AUSTRALIA TOTAL                                   $4.40 billion                 
                                                                                             
               NEW ZEALAND                                                                   
 Auckland Airport                                           NZ$1.2 billion*               Travel
 Kathmandu Holdings Ltd                                     NZ$207 million**              Retail
                                                                                             
            NEW ZEALAND TOTAL                               $861.37 million                  
                                                                                             
  TOTAL ACROSS AUSTRALIA AND NEW ZEALAND                     $5.26 billion                   
                                                                                             
    Notes:
    * Includes announced share purchase plan 
    ** Retail component of offer still ongoing 
    
  DEBT: 
                 COMPANY                    REUTERS              AMOUNT                  SECTOR
                                           INSTRUMENT        ($1 = A$1.5625)       
                                              CODE         ($1 = NZ$1.6369)        
                                                                                            
                AUSTRALIA                                                                   
 Qantas Airways                                              A$1.05 billion              Airline
 Flight Centre Travel Group                                  A$200 million               Travel
 Cochlear                                                    A$250 million^            Healthcare
 Viva Energy REIT                                            A$275 million                REIT
 IDP Education Ltd                                           A$150 million              Education
 National Storage REIT                                       A$225 million           Storage centre
                                                                                        operator 
 Super Retail Group                                          A$100 million               Retail
                                                                                            
             AUSTRALIA TOTAL                                 $1.44 billion                  
                                                                                            
               NEW ZEALAND                                                                  
 Spark New Zealand                                           NZ$150 million              Telecom
                                                                                            
            NEW ZEALAND TOTAL                                $91.64 million                 
                                                                                            
  TOTAL ACROSS AUSTRALIA AND NEW ZEALAND                     $1.53 billion                  
                                                                                            
    Note:
    ^ Talks ongoing for portion of total

 (Reporting by Nikhil Kurian Nainan in Bengaluru, Editing by Sherry Jacob-Phillips)
  

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