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Biosev Lands Guaranteed IPO

Apr 16, 2013

Brazil's Biosev priced a BRL814m ($407m) IPO Monday, finding success in its second attempt to debut on the Bovespa thanks to put options that guarantee investors do not lose money in the first year. The Brazilian sugar, ethanol and bioenergy unit of Louis Dreyfus Commodities is selling 53.7m primary shares at BRL15.00 each, according to the CVM, with put options at...

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

Jan Dehn, Ashmore Investment Management