CSN defines target price for IPO

CSN defines target price for IPO

Corporate & Sovereign Strategy Capital Markets Equity IPO Rule 400 Brazil Latin America

Brazilian steel producer Companhia Siderúrgica Nacional (CSN) set a target price for the initial public offering of its minerals division that could move up to BRL7.2 billion ($1.32 billion) from primary and secondary offerings. CSN Mineração defined an indicative price of between BRL8.50 and BRL11.35 per share and will sell 161 million shares in the primary offering, while current shareholders - CSN, Japão Brasil Minério de Ferro and POSCO - will sell 373 million shares in the secondary offerin

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