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

Cindy Allen

NEW YORK , October 7, 2011 (Associated Press) – 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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