Brazil's Mahle Metal Leve files follow-on share offering
October 24, 2023 at 06:43 am EDT
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SAO PAULO (Reuters) - Brazilian auto parts maker Mahle Metal Leve said on Tuesday it has filed for a follow-on share offering that will comprise both primary and secondary sales.
The company said the offering will initially include 7.23 million new common shares to be issued by the firm and 12.83 million shares being sold by German controller Mahle GmbH. It may, however, be increased by up to 45.9% if demand allows.
Metal Leve already said earlier this month that it was considering the offer, which will be managed by investment banks Itau BBA and Citi Brasil and is scheduled to be priced on Oct. 31.
The primary sale, Metal Leve added in a securities filing, will be exclusively aimed at raising money for dividend payouts. It said it will distribute to shareholders a total of 710.83 million reais ($141.82 million) following the move.
($1 = 5.0122 reais)
(Reporting by Gabriel Araujo; editing by Jason Neely, Kirsten Donovan)
Mahle Metal Leve SA is a Brazil-based company primarily engaged in the automotive engine parts manufacture. The Companyâs activities are divided into two business segments: Engine components and Filter. The Engine components division produces parts for internal combustion engines and automotive vehicles, such as rings, sensors, rockers, rods, crank arms, bushes, cylinder sleeves, bearing covers, rocker assemblies, crowns, injectors, synchromesh hubs, universal joints, shafts, gears, guides and valve seats, pistons, water and oil pump impellers, gudgeon pins and pulleys. The Filters division manufactures various types of filters, such as fuel, air, oil, cabin and press, used in vehicles, as well as applied in industry, automobile service stations, passenger and cargo transport, earthworks, fishing terminals and farms. The Company is indirectly controlled by Mahle Industriebeteiligungen GmbH.
MAHLE METAL LEVE S.A. 
