Share Slide Roughs Up Marfrig Sale

Share Slide Roughs Up Marfrig Sale

Brazil Equity

Brazil’s Marfrig has priced a BRL1.05bn ($495m) equity follow-on, coming at an 11.6% discount and seeing weak demand after its share price dropped 22% during Monday and Tuesday. The meatpacker is offering 131m shares, including a 15% greenshoe and part of a 20% hot issue, at BRL8.00 each, according to the CVM, versus Tuesday’s BRL9.05 closing price. The sale was heard to be more than 1x subscribed. The sizeable discount comes after shares plummeted 15.5% in Tuesday’s session, following a 7.7% dr

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