March 13, 2007

Brazil's JBS SA to sell up US$1.2 billion in stock
 

JBS SA, the Brazilian meat processor that owns Friboi meat brand and a shareholder, plans to sell as much as 2.6 billion reais (US$1.2 billion) of voting shares in an initial public offering.

JBS and shareholder ZMF Fundo de Investimento em Particpacoes plan to sell 200 million of new and existing shares for 9 reais to 13 reais each, the company said in a statement in Valor Economico newspaper.

The sale will be closed on March 27 and the stock will begin trading at the Sao Paulo stock exchange on March 29.