Shell-Cosan Venture Snatches $14 Billion Valuation in Brazil IPO
- Raizen to go public in Latin America’s largest IPO this year
- Firm is said to sell shares at low-end of marketed range
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Brazilian biofuel company Raizen SA, a joint venture between Royal Dutch Shell Plc and Cosan SA, is said to have raised 6.9 billion reais ($1.3 billion) in Latin America’s biggest initial public offering this year, according to people familiar with the matter.
Brazil’s largest sugar and ethanol producer sold 810,811,000 preferred shares at 7.40 reais apiece on Tuesday, the bottom of the indicative range, said the people, who asked not to be named as the information isn’t public yet.