SAO PAULO, Sept 5 (Reuters) - Brazilian homebuilder Tenda has raised 234.38 million reais ($47.47 million) in a follow-on share offering priced on Monday, it said in a securities filing in the early hours of Tuesday.
The offering was launched by Tenda with the goal of raising funds to enhance its capital structure as it looks to reduce its level of indebtedness, part of a broader move that also includes talks with creditors to restructure its debt.
Tenda said the offering was priced at 12.50 reais per share, a 1.8% discount over its Monday closing. The initially planned sale of 18.75 million shares ended up increased by 25% as demand allowed it, the homebuilder added.
Bradesco BBI and Caixa Economica Federal managed the offering. ($1 = 4.9373 reais) (Reporting by Gabriel Araujo; Editing by Steven Grattan)
