Brazilian energy company Raizen has officially registered for an initial public offering with Brazilian securities regulator CVM, the company said June 3, after days of hinting that such a move was imminent.
Earlier in the week, Raizen, a joint venture between Royal Dutch Shell Plc and Brazilian energy group Cosan SA, said it planned to formally file for a public offering in “the next days.”
The company, the fourth largest in Brazil by revenue, is the largest sugar producer in the world and it operates a major gas station chain in Brazil and Argentina. Its IPO is expected to raise up to 13 billion reais ($2.56 billion).
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