Four banks appointed as bookrunners for Raizen’s $2.25B IPO

In Brazil, Reuters reports that Cosan and Shell have appointed Banco BTG Pactual SA, Bank of America, Citi and Credit Suisse AG to support the IPO of Raizen as soon as June or July on the B3 exchange that could raise up to $2.25 billion. Such an IPO would bring the company’s evaluation to around $17.5 billion. More banks may be added to the syndicate later this week. As part of the company’s recent purchase of Biosev, shareholders will receive 3.5% of Raizen’s preferred shares and 1.49% of redeemable shares.