Minerva Raises FO Equity

Minerva Raises FO Equity

Brazil Equity

Minerva has priced a BRL557m ($267m) equity follow-on, bringing the first marketed Brazilian equity deal since July at a 4.3% discount. The meatpacker priced 43m primary shares and 7.5m secondary shares, including a 15% greenshoe and 20% hot issue, at BRL11.00 each, according to the CVM. The price compares to Wednesday’s BRL11.50 closing level. The secondary shares were entirely part of the hot issue and sold by controller VDQ holdings. About 65% of the proceeds will be used for debt, and the re

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