General Growth Properties, Inc. announced Aliansce Shopping Centers S.A. has completed an initial public offering of Aliansce’s common shares on the Brazilian Stock Exchange,
The initial public offering involved 65,000,000 of Aliansce’s common shares, with each share priced at $4.86. Aliansce sold 50,000,000 shares in the offering and selling shareholders other than GGP sold 15,000,000 shares.
GGP did not sell any of its Aliansce shares in the offering and now has approximately a 31.4 percent ownership interest in Aliansce, which develops, owns and manages shopping centers in Brazil.
Read the announcement: businesswire.com
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