Gol announced the early October sale of at least 51.8 million shares on the Sao Paulo stock exchange--34.5 million preferred shares in a primary offering and 17.3 million voting shares in a secondary offering. According to press reports form Sao Paulo, the offering would raise BRL963.9 million ($530.1 million) based on Tuesday's closing price and would raise the LCC's capital to BRL2.57 billion.

Subscribe to Access this Entire Article

"Gol announces stock sale" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.