The Real Deal Miami

Equity One to issue 3.83 million shares

The firm hopes to raise up to $102.5 million
September 11, 2014 03:45PM

EQUITY_LOGOEquity One is hoping to raise up to $102.5 million in a stock offering.

The North Miami Beach-based shopping center investor will issue 3.83 million shares for $23.30 each on Monday, according to the South Florida Business Journal.

And Citigroup, the underwriter of the offering, may purchase another 573,750 shares over the next month.

Shares of Equity One fell 53 cents, or 2.3 percent, on Wednesday to $23, according to the Business Journal. The 52-week high was $24.99 on Nov. 4, 2013.

And Gazit First Generation — the company’s largest shareholder — has agreed to buy 675,000 shares in the offering. [South Florida Business Journal]Christopher Cameron