Biosev Launches Guaranteed IPO

Biosev Launches Guaranteed IPO

Brazil Equity

Biosev has launched an IPO targeting more than BRL800m ($398m), setting an April 15 pricing for its second attempt to debut on the Bovespa. To improve its chances, the Brazilian sugar, ethanol and bioenergy unit of Louis Dreyfus Commodities is selling the 53.7m primary shares at BRL15.00 each with a put option at BRL0.01-BRL2.00 each, according to offering documents. This would indicate a BRL859m transaction at the BRL16.00 midpoint, with the company getting proceeds of BRL806m. The totals assum

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