September 10, 2020 |
Compass Gás e Energia, a natural gas company owned by sugar and ethanol producer Cosan, could earn up to BRL5 billion ($945 million) in its initial public offering (IPO) after it set the target price at BRL25.50 to BRL31.50 per share, it said in a preliminary prospectus.
Compass said it will sell 118 million shares in a primary offering, but added that it could increase the size of the deal by 35%, or 41.2 million shares, depending on demand.
The company will price the IPO on September 28 with I
Cosan could raise $945 mln in a spin-off of its natural gas business