May 11, 2020 / 11:28 AM / 21 days ago

Brazilian retailer Centauro plans $87 mln share issue -newspaper

SAO PAULO, May 11 (Reuters) - Sports chain Centauro is the second Brazilian retailer preparing a follow-on share issue, newspaper Valor Economico reported on Monday.

Centauro could issue up to 500 million reais ($87 million) in new shares, the paper said, citing sources, and have hired investment banks BTG Pactual, Bradesco BBI and Itaú BBA.

Via Varejo said on Friday it is also considering a larger share offering to strengthen its cash position. Both retailers have most of their stores closed to comply to social distancing measures against the coronavirus in the largest Brazilian cities.

Centauro did not immediately reply to a request for comment.

$1 = 5.7319 reais Reporting by Tatiana Bautzer Editing by Chizu Nomiyama

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