Prima Foods files for IPO

SAO PAULO (Reuters) ­— Brazilian meatpacker Prima Foods SA filed for an initial public offering, according to a recent securities filing, in a move that will list another company owned by the billionaire family Batista.

Jose Batista Junior, the older brother of Wesley Batista and Joesley Batista, controlling shareholders in meatpacker JBS SA and owner of Prima Foods, intends to partially sell his shares in the company, according to the filing.

The share offering is expected to reach roughly one billion reais ($222 million), two sources with knowledge of the matter said.

The company has slaughtering capacity of 2,600 head of cattle per day in the Brazilian states of Minas Gerais, Goias and Mato Grosso do Sul, the filing said.

Prima Foods posted revenues of $445.35 million in 2019.

explore

Stories from our other publications