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Investors hint interest in Brazil's Tenda IPO at lowest price -sources
December 12, 2016 / 9:31 PM / a year ago

Investors hint interest in Brazil's Tenda IPO at lowest price -sources

SAO PAULO, Dec 12 (Reuters) - Potential investors in Wednesday’s initial public offering of Brazilian homebuilder Construtora Tenda SA have largely signaled their interest if the offering prices at the lowest end of the suggested price tag, two people familiar with the plan said.

According to the people, several large investors who met Tenda’s owner Gafisa SA and the banks involved in the deal in recent days said Tenda would be fairly priced at 12.50 reais a share or less. Gafisa had previously set a maximum price of 16.50 reais per share for the IPO of the low-cost homebuilder. (Reporting by Guillermo Parra-Bernal and Tatiana Bautzer; Editing by Meredith Mazzilli)

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