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Report: Brazil’s Lojas Renner to Launch 4.5 Billion Reais Share Offering

Lojas Renner store in Brazil
Lojas Renner store in Brazil. Shutterstock. (Shutterstock)

Brazilian apparel retailer Lojas Renner is preparing to launch a roughly 4.5 billion reais ($806 million) share offering, financial blog Brazil Journal reported on Friday.

The company plans to use the proceeds to fund its growth plan, including potential mergers and acquisitions.

Shares rose more the 8 percent in the afternoon trading session.

By Carolina Mandl; Editing by Chris Reese

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