Brazil’s waste processor Orizan concludes US$103 million IPO

RIO DE JANEIRO, BRAZIL – Brazil’s Orizan Valorizacao de Residuos SA, which turns waste into biofuel, has concluded a R$554 million (US$103.23 million) initial public offering, according to a securities filing on Thursday, February 11th.

Orizan priced its offering at R$22 per share, within the indicative range of R$20 to R$27 per share.

The company raised R$381.4 million, while shareholders sold R$172.6 million in stock.

Related coverage: Brazil will extend emergency aid but only with cost-cutting measures: Economy Minister · Brazil emergency aid: Chamber president pressures Economy Minister for immediate solution · Bolsonaro says pandemic emergency aid should return in March, for 4-month period · Banco do Brasil annual 2020 adjusted profit R$13.8 billion, down 22% from 2019

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error

Brazil runoff, Sunday, October 25: Brazil runoff start time and results schedule. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.