SAO PAULO, Dec 18 (Reuters) - The board of BRF SA , the world’s largest poultry producer, approved on Thursday repurchases of up to 1 billion reais ($376 million) in outstanding shares in a bid to better reallocate the company’s capital.
In a securities filing, the São Paulo-based company said that the plan will run for 89 days starting on Jan. 5. BRF currently has 867.28 million shares outstanding.
Shares of BRF dipped 0.81 percent on Thursday to end at 61.50 reais. The stock is up 28 percent so far this year.
$1 = 2.66 Brazilian reais Reporting by Guillermo Parra-Bernal