STXNEWS LATAM-Brazil's Minerva to price share offering Nov. 28

Tue Nov 6, 2012 7:20am EST

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Brazilian food processor Minerva and its controlling shareholder said on Tuesday they planned to price a share offering on Nov. 28 to raise at least 417 million reais ($205 million) based on current share prices.

Minerva plans to sell 37.5 million new shares in the offering and may expand the new issue by up to 5.625 million shares. Controlling shareholder VDQ Holdings may also sell up to 7.5 million of its shares in the company during the offering.

Shares of Minerva closed at 11.13 reais each on Monday.