(Changes headline, adds background on Minerva)
SAO PAULO, Jan 16 (Reuters) - Brazilian beefpacker Minerva SA announced a share offering that could raise as much as 1.368 billion reais ($327 million) via the sale of new common and existing stock.
Minerva said it plans to sell 80 million new common shares in the offering.
Another 15 million existing common shares owned by VDQ Holdings, which currently has a 29.16% stake in the meatpacker, are also going to be sold as part of the transaction, the company said.
The estimated value of the transaction is based on the share's closing price of 14.40 reais on Wednesday, but may vary according to market fluctuations, the filing said.
Minerva is a leading beef producer and exporter in South America, selling chilled, frozen and processed meats. It also exports live cattle.
This year, the company's shares are up 12.5%.
The share sale comes at a time Brazilian meatpackers are winning more market share, driven by a surge in meat imports in China after the outbreak of a deadly pig disease, which reduced internal supplies.
According to its website, Minerva currently operates 25 cattle slaughtering plants in Brazil, Paraguay, Uruguay, Argentina and Colombia, with a total slaughtering capacity of 26,380 head of cattle per day. ($1 = 4.1753 reais) (Reporting by Ana Mano; Editing by Alex Richardson)
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January 16, 2020 at 06:11PM
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UPDATE 1-Brazil beef-packer Minerva announces $327m share offering - filing - Successful Farming
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