Biosev Lands Guaranteed IPO

Biosev Lands Guaranteed IPO

Brazil Equity

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 BRL0.25 each, according to people following the sale. The total assumes the exercise of a 15% greenshoe. The share price had been fi

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