Tecnisa Council approves capital increase of up to 150 mi R$

São Paulo – the Board of Directors of Tecnisa approved capital increase of up to 150 million dollars through the issue of up to 57,692,307 new ordinary shares, according to material released on Thursday night.
With that, the share capital of the company will pass the current 1.273 billion reais for a maximum of 1.423 billion reais. According to the document, the shareholders Meyer Joseph Nigri, Tayo Czeresnia Nigri and Jar Holdings took over the obligation to subscribe and pay at least 28,297,938 shares, valued at 73,575,000 dollars.
Separately, Tecnisa announced net loss of 251,500,000 reais in the fourth quarter, compared with a positive result of 168,400,000 dollars in the same period in 2015.
The company showed earnings before interest, taxes, depreciation and amortization (Ebitda) adjusted negative of 230 million reais, compared with actual positive 173,800,000 in the last quarter of 2015.