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Royal Dutch Shell Plc’s Raizen JV set to float in Brazil

PLC’s () Brazilian joint venture Raizen is reportedly preparing a spin-out and IPO with a US$13.5bn (70bn Reais) valuation.

The precise size and pricing of the IPO could be set in a prospectus filed with the Brazilian authorities as soon as this week, according to a report by Reuters.

Raizen, which operates fuelling stations, could be valued between 60 to 80 billion Reais as it seeks to raise 6 billion Reais (US$1.2bn) of funding, down from prior estimates which pitched the IPO to raise 12 billion Reais (US$2.3bn).

It was reported that the IPO syndicate includes twelve investment banks including Citigroup, , Group AG, , , and .

Read More: Royal Dutch Shell Plc’s Raizen JV set to float in Brazil

2021-07-14 03:28:00

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