Brazil’s Paranapanema is planning a share offering as part of a financial re-structuring plan, according to BN Americas. Papers filed with the country’s securities regulator CVM state that shares will be offered in three tranches to existing shareholders and retail and institutional investors by December 18.
The group includes the Mineração Taboca tin company as well as copper and fertilizer subsidiaries. Group refined tin production in the first half of 2007 rose by 46% to 3,189 tonnes, although a further planned expansion of output in the second half of this year has been delayed.
