Sunday, 22 May 2011

0

Sugar Exporter Copersucar Files to Sell Shares in Brazil IPO

  • Sunday, 22 May 2011
  • Share
  • Copersucar SA, Brazil’s biggest sugar exporter, filed to sell shares in an initial public offering as it speeds up a 1.5 billion-real ($920 million) investment plan.

    The company hired Banco Itau BBA SA as the lead coordinator and said Bank of America Merrill Lynch, Credit Suisse Group AG and Goldman Sachs Group Inc. (GS) would also help arrange the sale, according to a statement posted today on the Brazilian securities regulator’s website. The number of shares or value of the transaction wasn’t disclosed.

    Copersucar’s 48 shareholders crush about 115 million metric tons of sugar cane to turn it into sugar and ethanol. The company owns a terminal at the Port of Santos, Brazil’s largest, to export the sweetener and the biofuel. This year, Copersucar plans to trade 8.1 million tons of sugar.

    Companies have raised $2.71 billion in IPOs in Brazil so far this year, down 29 percent from the $3.81 billion raised in the same period a year earlier, according to data compiled by Bloomberg.

    Source: http://www.bloomberg.com/news/2011-05-20/brazil-sugar-exporter-copersucar-files-to-sell-shares-in-initial-offering.html

    0 Responses to “Sugar Exporter Copersucar Files to Sell Shares in Brazil IPO”

    Post a Comment

    Subscribe


    Enter your email address: