M. Dias Branco to issue more shares
December 11, 2009
by Eric Schroeder
EUSEBIO, BRAZIL — M. Dias Branco S.A. Indústria e Comércio de Alimentos, a food processing company based in Eusebio, announced Dec. 11 it is planning a secondary stock offering valued at 600 Brazilian reals ($340 million). Based in Eusebio in east central Brazil, M. Dias had 2008 sales of 2,193 reals. Its businesses include biscuits (50% of sales), pasta manufacturing (23%), flour milling (21%) and margarine and shortening (5%). The company has 11,400 employees. The company’s market capitalization as of Dec. 11 was 4,390 million reals ($2.5 billion), and its shares recently were trading at 38.70 reals, off from the 52-week high of 41 set on Dec. 1 but still up 96% year to date.