Brazil’s Soma raises US$170 million in stock offering with 5X oversubscription

Shares were sold at R$19.20 (US$3.68), 18% higher than the quotation the day before the offering was announced.

RIO DE JANEIRO, BRAZIL - The Soma Group has raised almost R$885 (US$170) million through its public offering with shares sold at R$19.20, representing a 2.5% discount over yesterday's closing price, which stood at R$19.70.

However, the most significant aspect of this operation is that the value was almost 18% higher than the closing price of the day before the offering was announced and 36% over the R$14.10 shown on the B3 screens the day before the group's purchase of Hering was reported.

Soon after the acquisition of the Santa . . .

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