November 13, 2019 / 10:21 AM / a month ago

Brazilian retailer Magazine Luiza prices share issue at 43 reais each -filing

SAO PAULO, Nov 13 (Reuters) - Brazilian retailer Magazine Luiza SA priced its share issue at 43 reais per share, the company said in a securities filing in the early hours of Wednesday.

The pricing confirms an earlier Reuters report.

The company sold 100 million new shares and 10 million existing shares, totaling 4.73 billion reais ($1.14 billion), according to the filing. New shares will start trading on the Sao Paulo stock exchange on Thursday.

Magazine Luiza added proceeds will be used to fund the expansion of its marketplace platform, store openings, strategic acquisitions and technology. ($1 = 4.1637 reais) (Reporting by Gabriela Mello; Editing by Susan Fenton)

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