Hidrovias do Brasil S.A. (HBSA3.SA)

Hidrovias do Brasil prices secondary offering at 3.40 reais/share

Brazilian logistics company Hidrovias do Brasil said late on Wednesday that a secondary offering by existing shareholders Patria and Sommerville has been priced at 3.40 reais per share. The two investment funds, which are among the largest shareholders of Hidrovias do Brasil, sold 130 million shares of the company in the transaction, totaling 442 million reais ($91.73 million). The offering was priced at a 1.7% discount to Hidrovias' Wednesday closing price of 3.46 reais.