Kepler Weber scraps with BNDES over warrants

Kepler Weber scraps with BNDES over warrants

Equity

Brazilian agribusiness firm Kepler Weber is tussling with development bank BNDES over the value of equity warrants, and the extent to which existing shareholders are set to be diluted when they are exercised. Kepler, which manufactures grain production equipment, sold 113,321 debentures and warrants to BNDESPar in 2007. The firm says warrant each should be worth 25.4 Kepler shares on conversion, which would dilute shareholders by 9.9%. BNDESPar calculates it should get 41 shares, which would res

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