BRAZIL, São Paulo. Minerva SA, a prominent beef processor in Brazil, announced plans for a public offering with a goal of raising up to $327 mill.
The beef company stated in its filing that it plans to sell 80 mill. new shares in the offering along with another 15 mill. existing shares owned by VDQ Holdings. According to an ownership breakdown on the Minerva website, VDQ owns 27.21% of the company as of 22 November, 2019.
According to the company, prices for shares will be determined on 23 January.
Minerva SA produces around 25,480 head of cattle per day. The company currently works in Brazil, Paraguay, Argentina, Uruguay and Colombia. It also operates in the foodservice sector through Minerva Dawn Farms joint venture.