October 31, 2019 / 1:50 AM / 19 days ago

Brazilian retailer Magazine Luiza plans to raise $1.25 billion in share offering- report

SAO PAULO, Oct 30 (Reuters) - Brazilian retailer Magazine Luiza SA is planning to raise up to 5 billion reais ($1.25 billion) with a share offering, financial blog Brazil Journal reported late on Wednesday.

Citing sources with knowledge of the matter, the blog said the retailer has already hired banks and will start meetings with investors on Thursday.

The company did not reply to a Reuters request for comment. ($1 = 3.9877 reais) (Reporting by Tatiana Bautzer Editing by Shri Navaratnam)

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