B2W board approves US$602mn private share issue

- Thursday, March 24, 2011

B2W board approves US$602mn private share issue

The board of Brazilian online retailer B2W Cia Global do Varejo - the holding company of the Americanas and Submarino websites - has approved a private share issue worth 1bn reais (US$602mn).

B2W will issue around 46.2mn new shares at a price of 21.62 reais each, the company said late Wednesday (Mar 23) in a statement.

B2W is controlled by local retail group Lojas Americanas, which owns 56.67% of the company's voting and total capital.

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