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, known as IMC, said it has hired investment banking units of Banco BTG Pactual SA and XP Inc as advisors for the potential offering, without providing further details.
IMC, which owns popular fast food restaurant brands in Brazil, has been sharply hit by 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 earlier this year, with commitment of its main shareholders to the capital increase, or a marketed follow-on to all investors.
One person with knowledge of the matter said the company plans to raise up to 250 million reais ($48 million).
IMC declined to comment.