Meal Comp nets cash on follow-on offering

Meal Comp nets cash on follow-on offering

Capital Markets Equity Brazil

International Meal Company has raised BRL444.6m ($136m) in a restricted follow-on equity offering, offloading 55.57m shares for BRL8 apiece. The Brazilian casual diner said in a securities filing that investment funds FIP Semolina and FIP Brasil Empreendimentos sold 21.9m and 33.58m shares it held, respectively. FIP Semolina also sold a further 30,000 shares, increasing the company's trade by 0.05%, the securities filing showed. Both funds were formed by private equity fund Advent International.

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