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Raízen Energia

Raízen seeks R$70 billion valuation in initial public offering – Money Times

The valuation could range from 60 billion to 80 billion riyals, depending on demand (Photo: Reuters/Marcelo Teixeira)

a root, a joint venture entre a Royal Dutch Coincidence it’s at kosan (CSAN3) seeks to value 70 billion riyals in its initial offering of Procedures (IPO, its acronym in English), cite three sources with knowledge of the topic.

They added that the valuation could range from R$60 billion to R$80 billion depending on demand.

a BusinessWhich is engaged in the distribution and production of fuel Sugar e ethanolThe company, who asked not to be identified, decided to reduce the offer to about 5 billion riyals, compared to about 12 billion originally planned, said the sources, who requested anonymity.

Risen did not immediately respond to a request for comment.

The company plans to submit a new prospectus to Securities Commission (CVM) later this week.

In initial meetings with investors, a process known as “trial hunting,” the book was covered almost entirely, according to the sources.

Underwriting coordinators are Actual BTG (BPAC11), CityAnd the American bankAnd the Swiss creditAnd the JP MorganAnd the Morgan Stanley (Ms), Bradesco BBIAnd the Santander Brazil (San B 11), XP Investment (XP), HSBCAnd the crop e Scotiabank.

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