Latin American McDonald's franchisee Arcos Dorados says it will make a secondary offering of shares; company went public in April, offering 73.5 million shares at US$17/share
October 7, 2011
– Arcos Dorados Holdings Inc., which went public in April, said Friday it will make a secondary offering of shares.
The company, based in Buenos Aires, Argentina, did not disclose how many shares it plans to offer or price the offering.
Arcos Dorados -- which means "Golden Arches" in Spanish -- is one of the largest McDonald's franchisees.
When the company went public in April it offered 73.5 million shares at $17 each.
Its shares fell $1.24, or 5.1 percent, to $23.27 during midday trading. The stock is up 9 percent from its closing price of $21.20 the day it went public.
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