December 24, 2018 |
Brazil's Minerva Foods has announced plans to increase capital by BRL965bn ($248m) through the sale of new shares in the stock market.
The meat company said its board has approved a proposal to sell 150m shares for BRL6.42 each and boost total capital by more than seven times to BRL1.12bn from BRL150m.
Minerva will issue the new shares in three business days, the company said in a securities filing.
Minerva also said its majority shareholder VDQ Holdings has cancelled a shareholders agreement
Brazilian meat company beefs up capital more than seven times to $287m