USA: Ebay to sell stake in MercadoLibre
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.
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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