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SSAAY Ssab Swedish Steel (PK)

2.844
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Ssab Swedish Steel (PK) USOTC:SSAAY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 2.844 1.85 3.85 6 21:14:28

Brazil's Minerva Plans to Sell 37.5 Million Shares

22/10/2012 3:15pm

Dow Jones News


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SAO PAULO--Brazilian beef producer Minerva S/A (BEEF3.BR, MRVSY) plans to sell 37.5 million shares via a global offering, in an operation that could amount to 413 million Brazilian reais ($204.6 million), the company said over the weekend in a statement.

Minerva said that the shares sale will be partly via a primary offer and partly via the sale of shares of its existing shareholders.

The company hired BTG Pactual, Credit Suisse Group AG (CS, CSGN.VX), HSBC Holdings PLC (HBC, HSBA.LN, 0005.HK) and Morgan Stanley (MS) to coordinate the operation. It did not unveil a timetable for the shares offer.

Minerva said that it plans to use the proceeds to reinforce its capital structure and to finance its investment plans.

Recently, Minerva's shares were down 6.3% at BRL11.05, while the main local stock market index, the Ibovespa, was down 0.18%.

Write to Rogerio Jelmayer at rogerio.jelmayer@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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