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April 30, 2019

Minerva launches IPO for Chilean subsidiary Athena Foods

Brazilian meat giant Minerva announced further details of the initial public offering of its subsidiary Athena Foods in Chile on Monday (29 April)

By Leonie Barrie

Brazilian meat giant Minerva  announced on Monday (29 April) that the initial public offering of its subsidiary Athena Foods in Chile is under way.

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Minerva said it expects to conclude the offering by the end of May. The company has hired Banco BTG Pactual , JPMorgan Chase & Co., HSBC Holdings and Chile’s Larrain Vial SA Corredora de Bolsa to manage the IPO on the Santiago Stock Exchange (Bolsa de Valores de Santiago).

The meat packer revealed back in August that its Athena Foods arm would seek to issue shares on the exchange subject to certain criteria, including the completion of a capital injection into the unit.

Athena Food also incorporates Minerva ‘s operations in Paraguay, Uruguay and Colombia. It will be the first food-processing company listed in Santiago.

Last month, Minerva announced it had a new chief financial officer (CFO) in the shape of Edison Ticle de Andrade Melo e Souza Filho, a position previously held by Eduardo Pirani Puzziello who is to join Athena Foods to help steer it through the IPO process.

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Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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