Reuters
Brazilian homebuilder Cyrela Brazil Realty SA said on Thursday that Plano & Plano Desenvolvimento Imobiliário SA, in which it holds a 50% stake, has filed for an initial public offering (IPO) on the Sao Paulo stock exchange. Cyrela said in a securities filing that Plano & Plano's listing in the Novo Mercado segment of the market, which has strict governance requirements, was approved by shareholders in an assembly on July 17. Cyrela struck a joint venture deal with Plano & Plano in 2006 to work in the the government's housing program Minha Casa Minha Vida.