Quantcast
Shares in Brazil meatpacker Marfrig fall 2% at open after secondary share offering - Metro US

Shares in Brazil meatpacker Marfrig fall 2% at open after secondary share offering

BRASILIA (Reuters) – Shares in Brazil meatpacker Marfrig fell 2% in early trading on Monday after the company announced late on Friday a secondary share offering that will allow state development bank BNDES to divest its 34% stake in the company.

Marfrig shares fell to a one-week low of 10.87 reais, underperforming the broader Bovespa market which was up 0.1%.

(Reporting by Jamie McGeever, editing by Louise Heavens)

More from our Sister Sites