Marfrig to sell up to $141.8M in shares
Brazilian meat packing company Marfrig Alimentos SA (MRRTY, MRFG3.BR) Monday said it plans to sell up to 141.75 million shares in an exercise which could amount to 1.5 billion Brazilian reais ($740 million).
Marfrig will use the money from the sale of shares to reinforce its capital structure.
The company has hired Bank Of America Merrill Lynch, Bradesco BBI, Itau BBA, BB Investimentos, Deutsche bank and BAnco Santander to coordinate the operation.
Marfrig said that some of the shares being offered may be acquired by BNDESPar, the equity arm of Brazil’s National Development Bank, the BNDES. It added, however, that the bank is still evaluating the operation.
BNDEs officials could not be immediately reached for comment.
Investors can reserve shares from Nov. 21 to Nov. Dec. 3, said Marfrig, whose shares ended Friday down 2.72% at BRL10.70.