Brazil's Azul launches share offering to raise $1.33 billion
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Brazilian airline Azul has launched a primary share offering to raise approximately $1.33 billion to settle financial debts. The offering includes 724 billion preferential and ordinary shares. Azul, which filed for Chapter 11 bankruptcy in May, aims to reduce its debt and strengthen its business. The offering is managed by UBS BB and will be finalized by Azul's board on January 6. Investors will receive subscription bonuses convertible into new shares.
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