This content is from: Innovation

Copersucar Postpones $1.7B Brazil IPO

Copersucar has delayed its $1.7 billion Brazil IPO due to bad market conditions.

Copersucar has delayed its $1.7 billion Brazil IPO due to bad market conditions, Bloomberg reports. The sugar, ethanol and bio-energy firm with its 26 shareholders intended to sell up to 145.9 million shares for $9.26-11.82 per unit.

The sale proceeds would have been used to build an ethanol pipeline in Brazil and to expand the company’s sugar export capacity. Banco Itau BBA was managing the share sale along with Bank of America Merrill LynchBancoMultiplo, BancodeInvestimentosCreditSuisse(Brasil) and GoldmanSachsdoBrasilBancoMultiplo.

Click here for the story from Bloomberg.

Click here for additional coverage from Reuters.

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