Brazil's M.Dias to sell 11.3 mln shares in offer

SAO PAULO Dec 29 (Reuters) - Brazilian food processor M.Dias Branco (MDIA3.SA) said on Tuesday that it plans to sell 11.345 million shares in a secondary offering.

Using the stock's 41.70-real price in afternoon trade, the sale would generate about 473 million reais ($271 million).

Banco Itau will be the lead manager, the Eusebio, Brazil-based company said in a regulatory filing.

Investors have from Jan. 29 through Feb. 2 to make a bid for shares. The price will be fixed on Feb. 4 and the shares will trade on the BM&FBovespa starting on Feb. 8.

The company had announced its intentions earlier this month, pending regulatory approval.

($1=1.743 reais)

(Reporting by Luciana Lopez and Alberto Alerigi)