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Ultrapar announces global offering of 7.8 billion preferred shares

Bnamericas
Brazilian petrochemicals holding company Ultrapar announced on Tuesday a global secondary offering of some 7.87 billion preferred shares. Ultrapar's controlling shareholder Ultra SA Participações and Monteiro Aranha, are selling the shares. If demand beats expectations, Ultrapar may offer a greenshoe option equivalent to 1.18 billion additional shares. In a statement, Ultrapar said retail investors will be given priority for 10% of the offering. The period for buyers to reserve shares will be from March 30-April 11. Shares will be priced on April 12 after the bookbuilding process.

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