March 25, 2010 (FinancialWire) — Gafisa S.A. (NYSE: GFA) has priced an offering of 74 million common shares, including common shares in the form of American Depositary Shares.

The company has granted the international and Brazilian underwriters a 30-day option to purchase up to 11.1 million additional common shares, including common shares in the form of ADSs.

The ADSs were offered to the public at a price of $14.03 per ADS (each of which represents two common shares), and the common shares were offered to the public at a price of R$12.50 per common share.

The company plans to use the net proceeds from the global offering to acquire new land and for strategic joint ventures and acquisitions, working capital and new developments.

Brazil-based Gafisa is a builder and property developer working in various cities in Brazil. The firm focuses on residential projects for various income segments, and has completed more than 970 developments and constructed over 11 million square meters under its Gafisa brand.

It has completed more than 395 developments under its Tenda brand and completed more than 39 developments and constructed over 28 million square meters under its Alphaville brand.

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