Brazil's Zamp proposes capital increase of up to $82.4 million
Adds details of the deal in paragraphs 2-6
SAO PAULO, July 5 (Reuters) -Brazilian restaurant chain operator Zamp ZAMP3.SA proposed to shareholders a private capital increase of up to 450 million reais ($82.4 million) through the issuance of new shares, according to a securities filing on Friday.
Under the proposal, Zamp would issue the shares at the price of 3.42 reais each, a 12.5% discount from the shares' closing price on Friday.
Zamp, which operates Burger King and Popeyes brand in Latin America's largest economy, said it would issue between some 78.6 million shares to 131.6 million shares, raising between 268.9 million to 450 million reais, minutes from a board meeting on Friday showed.
The company said it intends to use the resources from the capital increase to finance its expansion strategy, which includes its acquisition of the rights to operate Starbucks in Brazil.
Shareholders would vote on the capital increase on a general meeting scheduled to July 26.
($1 = 5.4584 reais)
Reporting by Andre Romani; Editing by Aida Pelaez-Fernandez and Brendan O'Boyle
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
