Pet products retailer Petz announced this Wednesday (9) primary offering of 41 million shares, which it expects to price on November 18.
Considering the closing price of R$20.83 of Petz shares on Tuesday, the total value of the follow-on reaches R$854 million.
The company said it intends to use the funds with the operation to accelerate the opening of stores and hospitals, as well as to strengthen the ecosystem and new business/M&A and the development of the digital platform, technology and logistics.
Itaú BBA, Bank of America, Bradesco BBI, BTG Pactual, Morgan Stanley, Santander Brasil and XP Investimentos are the coordinators of the offer, which will be restricted.
Petz shares soared about 6% on Tuesday after the company reported third-quarter net income of BRL 26.6 million, up 56.1% year-on-year.
Petz also said it expects to open 50 new stores during 2022 and announced the acquisition of training company Cão Cidadão.
Reference: CNN Brasil
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