Boston, MA, 07/01/2013 (financialstrend) – Gafisa SA (ADR) (NYSE:GFA) is involved in property and home building in South America. Gafisa SA (ADR) (NYSE:GFA) will decide on the initial public offering of its high end Alphaville unit this year which is a clear sign of the Brazilian home building and property operations company which is enhancing its opportunity to raise the cash and pay off the debts.
Shares of Gafisa SA (ADR) (NYSE:GFA) which opened at $2.59 had declined by 7.04 percent to end up the day at $2.51 on Friday. The decline in the shares of the company is about $0.19 per share for the day. The price range of Gafisa SA (ADR) (NYSE:GFA) varied from as low as $2.47 to a peak value of $2.60. The 52 week low of the American Depository Shares is $2.11 and the high value was $5.24.
The total outstanding shares of Gafisa SA (ADR) (NYSE:GFA) is 215.82 million shares which accounts for a huge market capitalization of 541.70 million for Gafisa SA (ADR) (NYSE:GFA). Trading volume of the shares of the company for last Friday was 2.13 million shares which was high when compared to the average trading volume of 2.11 million shares. The institutional investors of the company contribute for around 19 percent of the total outstanding shares.
Gafisa SA (ADR) (NYSE:GFA) is a home building and real estate operations related company involved in the promotion, administration, purchase, sale and trade of real estate properties, provisioning of financial, construction of civil engineering services of real estate projects. Gafisa SA (ADR) (NYSE:GFA) has three major business segments, Gafisa – which focuses on residential development, Alphaville, which focuses on land subdivision and Tenda which is a low income residential development. Gafisa SA (ADR) (NYSE:GFA) had sold its 70 percent stake n Alphaville Urbanismo to Blackstone Group LP and Patria Investimentos Ltda.