Iron Ore Project Aims for IPO

Manabi Holding, a special purpose company administering steel assets and iron-ore exploration, is expected to IPO in Brazil. The company has appeared on the CVM’s list of those filing for an initial offering, usually the step taken before a prospectus is officially filed. A company official declines to comment on the filing. South Korea’s Korea Investment Corporation sovereign wealth fund and Canada’s Ontario Teachers’ Pension Plan are investors in the vehicle, according to local and wire reports.