(Corrects headline to show demand topped five times supply, not
five times demand)
SAO PAULO, April 10 Investor demand for shares
in Brazilian airline Azul SA's initial public offering in São
Paulo and New York surpassed five times the amount of stock on
offer ahead of pricing later on Monday, three people with
knowledge of the transaction said.
Hours ahead of pricing, the people said that the IPO could
price at 21 reais per preferred Brazilian share and $19.90 per
American depositary share, both at the middle of a suggested
price range for the transaction. Robust demand for the
transaction could lead Azul to offer additional and
supplementary allotments, the people said.
Azul could not be immediately reached for comment.
(Reporting by Guillermo Parra-Bernal; Editing by Meredith