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 . . .