Liasa delisted from Bovespa

Brazilian aluminum alloy producer Ligas de Aluminio (Liasa) completed a public tender offer to buy up its shares traded on the Sao Paulo stock exchange and delist the company. Some 800,000 preferred and common shares were bought at a price of 31.51 reais per 1,000-share lot, Liasa told the exchange, known as the Bovespa. The operation involved some 25,000 reais (currently US$8,600) in total. The company's controller, Jose Patrus Participacoes, had made an initial offer of 30 reais per 1,000-share lot to acquire the 2.59% of its total capital still traded on the market. Holders of over a third of the shares still traded on the market adhered to the operation, allowing the company's delisting. Belo Horizonte-based Liasa is the largest producer of silicon metal in South America with installed capacity of 46,000t.