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USA: Ebay to sell stake in MercadoLibre

USA: Ebay to sell stake in MercadoLibre

Octubre 13, 2016

👤Periodista: María Alejandra Lopez 🕔13.Oct 2016

 

MercadoLibre (NASDAQ:MELI) announces that eBay (NASDAQ:EBAY) plans to sell 5.5M shares in a follow-on offering. The underwriters will also have the option to purchase another 825K shares from eBay.

Also Read: Sears is making use of its rewards points app 

MercadoLibre will not receive any proceeds from the sale, while eBay could bring in over $1B that it can funnel into buyback activity.

Source: Seeking Alpha

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