This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gerdau S.A. - Pricing Of Global Offering

SAO PAULO, April 13, 2011 /PRNewswire/ -- GERDAU S.A. (Bovespa: GGBR, NYSE: GGB, Latibex: XGGB) (the "Company") announced today that it has priced its global offering of 68,026,910 common and 203,830,100 preferred shares (not including any exercise of the underwriters' over-allotment option), including preferred shares in the form of American depositary shares ("ADSs"). The common shares are being offered to the public in Brazil at a price R$15.60 per share, and the preferred shares are being offered to the public in Brazil at a price of R$19.25 per share.  Common shares are being offered in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and outside the United States pursuant to Regulation S under the Securities Act at a price of R$15.60 per share.  Preferred shares in the form of ADSs are being offered to the public internationally at a price of US$12.13 per preferred ADS.  The aggregate proceeds to the Company, after underwriting discounts and commissions, will be equivalent to approximately US$2,264 million.

The global offering consists of a registered offering in Brazil and an international offering, which includes a registered offering of preferred shares in the United States.  Investors in the international offering of preferred shares may elect to receive their shares in the form of ADSs.  The global offering is scheduled to close on Monday, April 18, 2011, subject to satisfaction of customary conditions.  Further information about the offers is contained in the offering documents.

Existing shareholders of the Company that are resident in Brazil were given the right to subscribe for shares in the Brazilian offering on a priority basis. Our principal shareholder, Metalurgica Gerdau S.A., subscribed the number of common shares required to maintain its proportionate interest in our common shares following our capital increase, and increased its interest slightly.

The preferred ADSs are listed on The New York Stock Exchange under the symbol GGB.  Our common shares and preferred shares are listed on the Sao Paulo Stock Exchange under the symbols GGBR3 and GGBR4, respectively.  Our preferred shares also trade on the LATIBEX, under the symbol XGGB.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.11 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs