Brazilian steelmaker Gerdau, controlled by descendants of the founding family, announced on 21 March that it plans to sell shares worth around $2.5 billion to fund its investment plans for the "next few years".
The biggest steel company in Latin America said that it will raise money for investment through a primary and a secondary offering of both voting and non-voting shares. The sale, scheduled to happen on 23 March, will see around 70 million voting new shares and over 200 million non-voting shares put up for sale.