Raizen IPO may set valuation around $13.5B

In Brazil, Bloomberg reports sources say Shell and Cosan are aiming for a $13.5 billion valuation of Raizen when the IPO is launched, with 10% of the company up for grabs for about $1.18 billion—although earlier reporting had the expected raise at closer to $2 billion. Pricing is expected to start in the next few weeks with the offer set to be announced any day now. Raizen is not only the largest sugar and ethanol producer in Brazil but also one of the topic Latin American fuel distributors.