UPDATE 2-Brazilian homebuilder Mitre, shareholders raise $282.5 mln in IPO

(Adds official confirmation) By Aluisio Alves and Tatiana Bautzer SAO PAULO, Feb 3 () – Brazilian homebuilder Mitre Realty Empreendimentos and its shareholders have raised 1.2 billion reais ($282.5 million) in an initial public offering, the company said on Monday. Mitre priced its shares on top of the suggested range, at 19.30 reais per share, the company said in a filing, confirming an earlier report by . The IPO raised 1.024 billion reais in its primary offering and 159.8 million reais in the secondary offering, the filing said. Mitre is the first homebuilder to list its shares on the Sao Paulo stock exchange in more than 10 years. With Brazil’s interest rates hitting a record low of 4.5% last year, homebuilders expect greater demand for housing units. Moura Dubeux Engenharia SA is also preparing an IPO. The company intends to use offering proceeds to acquire land, develop buildings and fund operating expenses, according to a securities filing. Mitre posted revenues of 190 million reais in the first nine months of 2019 and a net income of 27 million reais. Investment banking units of Itau Unibanco Holding SA, Banco BTG Pactual SA and Banco Bradesco SA managed the offering. Mitre shares will start trading on the Sao Paulo stock exchange on Feb. 5. (Reporting by Aluisio Alves and Tatiana Bautzer; Additional reporting by Carolina Mandl; Editing by Andrea Ricci and Leslie Adler)Our Standards:The Thomson Trust Principles.