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Oil Startup IPO Gains Momentum

May 28, 2008

OGX, the oil and gas exploration startup owned by Eike Batista, could raise up to BRL6.45bn ($3.85bn) with a June 11 IPO, according to a local filing. The first big Brazilian IPO of the year was initially expected to raise around $2bn. But the new higher amount...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management