CSN Unit IPO to Raise USD 838 Million
CSN IPOCSN

CSN Unit IPO to Raise USD 838 Million

Bloomberg, citing people familiar with the matter, reported that the initial public offering of Brazilian steelmaker Cia Siderurgica Nacional SA’s mining

Bloomberg, citing people familiar with the matter, reported that the initial public offering of Brazilian steelmaker Cia Siderurgica Nacional SA’s mining unit raised at least 4.5 billion reais (USD 838 million). CSN Mineracao, as the unit is known, and selling holders sold shares at 8.50 reais apiece on Friday, the bottom of the indicative range. If over-allotments are fully sold, the transaction could raise 6.1 billion reais, according to calculations based on the prospectus. CSN is still discussing the final size of the transaction with investors, the people said.

Morgan Stanley is leading the offer and other banks running the deal are XP Inc, Bank of America Corp, Banco Bradesco BBI SA, Banco BTG Pactual SA, UBS BB Investment Bank, Caixa Economica Federal, Citigroup Inc, Banco Fibra SA, JPMorgan Chase & Co, Safra SA and Santander Brasil.

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