Raízen’s IPO draws British asset manager Baillie Gifford back to Brazil

The British long term investment house wrote a check for approximately US$150 million for the company's debut on the stock exchange.

RIO DE JANEIRO, BRAZIL - Despite recent tensions and concerns in the market, not everything is gloom and doom. Some see an interesting future for Brazil, even if in isolated opportunities.

One of them is the IPO by Raízen, the ethanol producer and fuel distributor jointly controlled by Cosan and Shell - it drew back to Brazil an investor long unseen in initial public offerings (IPOs) in the country: British firm Baillie Gifford.

A long-term fundamentalist and activist, the British asset manager is Mercado Libre's second largest individual shareholder, valued at over US$88 billion, with approximately 9.5 . . .

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