ALL plans secondary public share offering

Brazilian rail logistics operator América Latina Logística (ALL) has filed a secondary public share offering with the country's securities regulator (CVM), according to an ALL CVM filing. The shares will be sold as "units," each of which will be made up of one ordinary and four preferential shares, said the filing, adding that the CVM must still approve the offering. The filing comes five months after ALL's initial public offering. ALL said in its filing that it would submit the new offering to an extraordinary general assembly December 24. Although the filing did not contain pricing information, Brazilian news service Valor Econômico reported that the offering would be worth US$200-250mn, and increase to close to US$500mn the amount of ALL shares that are floated, or close to 40%. The secondary public share offering aims to increase the operator's liquidity and allow current shareholders to reduce participations, said the report. ALL, which operates in Argentina and Brazil and catalogs itself as Latin America's largest independent logistics company, operates 584 locomotives, 18,217 rail cars, 1,826 highway vehicles, more than 16,000km of rail network and almost 2M sq. ft. (186,000 sq. m.) of warehousing. It has the rights to develop logistic real estate on more than 3,000M sq. ft. of land. The company plans to invest 1bn reais on railroads in partnership with its clients over the next five years. The company aims to acquire 30 locomotives and 10,000t of track annually, as well as to make 1,000 railcars.