Brazilian restaurant operator IMC considers share offering: filing

SAO PAULO (Reuters) – Brazilian restaurant operator International Meal Company Alimentacao SA (MEAL3.SA) is considering a share offering to raise money, according to a securities filing.

The company said it has hired investment banking units of Banco BTG Pactual SA and XP Inc as advisors in a potential share offering, without providing further details.

IMC, which owns popular fast food restaurant brands in Brazil, has been sharply hit by the restrictions to curb the spread of the novel coronavirus.

IMC is considering either a private capital raise similar to what cosmetics maker Natura & Co (NTCO3.SA) completed, with commitment of its main shareholders to the capital increase, and a marketed follow-on to all investors.

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