Brazil’s Copersucar is planning to raise about $1.7 billion in an initial public offering, Reuters reports. The company may issue 86.4 million shares of common stock in a primary offering with stockholders selling an additional 21.6 million shares in a secondary offering.
The sugar and alcohol cooperative may price the shares between $9.27 and $11.8. Banco Itau, Bank of America Merrill Lynch, Credit Suisse and Goldman Sachs have been appointed to manage the offering.
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