• Most Popular
  • Most Shared

Brazil's meats exporter Friboi files for IPO

Tue Feb 6, 2007 8:02am EST

Stocks

   

SAO PAULO, Feb 6 (Reuters) - JBS-Friboi, Latin America's biggest beef exporter and processor, filed on Tuesday with Brazil's securities regulator to sell shares in an initial public offering.

IPOs

Friboi is one of many Brazilian companies in the agriculture sector planning to sell shares this year to benefit from the country's booming capital markets. Other meat companies that analysts have said are candidates include Bertin, Independencia and Marfrig.

Sugar mill Cosan (CSAN3.SA) said last week it may hold a secondary share offering to buy milling group Vale do Rosario, while sugar company Sao Martinho has filed to sell shares as early as this week.

Friboi, which bought Swift of Argentina in 2005, said JP Morgan and UBS Pactual will manage the deal.

The meatpacker earned 180.3 million reais ($86 million) on revenue of 4.3 billion reais last year.

($1 = 2.08)



More from Reuters

Photo

Time Warner Cable, Fox at impasse; blackout looms

NEW YORK (Reuters) - About 13 million Time Warner Cable Inc subscribers were to lose most Fox programing at midnight on Thursday unless the cable service provider reached a last-minute deal to pay fees to News Corp to broadcast the shows.

A customer is served at a counter inside a foreign exchange store displaying a poster of various banknotes including the Chinese yuan or renminbi (RMB) in Hong Kong November 20, 2009. REUTERS/Bobby Yip
OUTLOOK 2010:

Be careful what you wish for

Pressure on China to loosen its grip on the yuan will continue but the U.S. should tread carefully. Here are five world market issues to watch.  Full Article 

Clients work out on machines at the Bally Total Fitness facility in Arvada, Colorado June 15, 2009.  REUTERS/Rick Wilking

Get real with resolutions

We make them and we break them: The secret to keeping them is to avoid the impossible dream.  Full Article