Tug and barge owner Hidrovias do Brasil will ask shareholders to approve a share sale to allow it to invest in growth.
The Sao Paulo-listed company wants to raise up to BRL 1.5bn ($267m) in a private placement.
It aims to “access new investments, driving its growth agenda and generating value for shareholders, with a focus on investments in additional capacity in the North Corridor, strengthening the company’s position in the region” and contributing to making Brazil’s logistics network more efficient, chief financial officer Andre Saleme Hachem said in a securities filing.
