August 31, 2017 / 6:02 PM / 4 months ago

Brazil's Kroton to issue $25.2 mln in shares for stock options

SAO PAULO, Aug 31 (Reuters) - Kroton Educacional SA , Brazil’s largest for-profit college operator, will issue 79.3 million reais ($25.2 million) worth of new shares to honor its stock option plan, according to a Thursday securities filing.

Kroton will issue 9.3 million new common shares at prices ranging from 5.855 reais to 13.827 reais each, the filing said. The transaction will increase the company’s capital to 4.3 billion reais, split between 1.6 million shares.

$1 = 3.15 reais Reporting by Bruno Federowski; Editing by Chizu Nomiyama

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