Brazilian footwear maker, Arezzo Industria e Comercio, is planning to raise around $196-248 million of shares through an initial public offering, The Wall Street Journal reports. Bank of America Merrill Lynch, Itau BBA and Credit Suisse will coordinate the operation. The company intends to offer 22.06 million common shares, with the price of each share expected to be in a range of $8.9 to $11.3. Arezzo shares will start trading on the Sao Paulo Stock Exchange on Feb. 2, 2011, adds Reuters.
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