Minerva shares rise on news of follow-on

Minerva shares rise on news of follow-on

Equity Capital Markets Corporate & Sovereign Strategy Rule 476 Brazil United States

Shares in Brazil's Minerva rose on Thursday after the Barretos-based food company announced plans for a follow-on equity offering on the B3 stock exchange in São Paulo. Minerva intends to issue 80 million new common shares, while VDQ Holdings plans to unload 15 million existing shares in the offering, Minerva said in a securities filing. VDQ currently has a 27.2% stake in the company. After the announcement, Minerva's shares initially fell around 1% to BRL14.16 ($3.38), but they recovered to ris

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