Log given green light for capital increase

Log given green light for capital increase

Brazil Equity

Log Commercial Properties has got the green light from its board to pursue a BRL308m ($98m) equity capital increase, the Brazilian company said in a securities filing. The property firm’s existing stakeholders will subscribe to 64.87m shares and majority shareholder MRV Engenharia will pick up the lion’s share.Homebuilder MRV currently holds 39.9% of Log and will inject BRL209.29m in the capital increase, picking up 29.79m of the shares on offer and take its overall stake in Log to 46%.St

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