May 29, 2024

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Shares of Minerva (BEEF3) jumped in the last phase of trading and closed 14.65% with news that it might be de-listed.

Shares of Minerva (BEEF3) jumped in the last phase of trading and closed 14.65% with news that it might be de-listed.

São Paulo – Minerva Foods Procedures (BEEF3) was the end of an unusual session this Wednesday (11). At the closing auction, shares jumped, closing up R$14.65, to R$9.94.

The move was made after the pipeline columnist at Valor Econômico found that the company’s controllers began discussing the possibility of closing the company’s capital.

The deal would benefit from an implicit discount that shareholders see in a company that has been regularly generating cash.

BRFS3), Marfrige (MRFG3) up to VDQ with an offer of R$11, as the post highlights.

Edison Tequel, Minerva’s chief financial officer, replied in a note to Pipeline, when contacted by the column. “We don’t comment on rumours. We are always looking for opportunities to generate value, particularly through market equilibrium. There is clearly a huge opportunity in Minerva’s actions due to the market’s shallowness and short-sightedness regarding the company’s results, and this can clearly awaken our creativity in Looking for more complex and unusual structures to extract value from this asymmetry,” he said.

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He also highlighted: “We always look at everything, take care of every possible scenario, but today there is absolutely nothing concrete to share.”

Minerva released its results for the second quarter of 2021 last Monday (9), posting a net profit of R$116.7 million, down 54% compared to the same period last year.

The company’s EBITDA (Ebitda, its English acronym) was R$544.9 million in the period, indented by 7.7% in the same comparison. The company’s net revenue was R$6.28 billion in the second quarter, up 42.9% year-on-year.

Market analysts highlighted that despite the strong numbers presented, Minerva was unable to maintain profit margins at the levels seen in the second quarter of last year. This time, they were punished by the high cost of livestock, especially in the Brazilian territory. Check out the review Click here.

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