Brazilian Cosan $350 Million IPO

Brazilian sugar producer Cosan has raised 770 million reais ($350 million) in its IPO, exceeding expectations. Cosan achieved a share price of 48 reais per share, above the 40-46 reais originally expected. The company, the world’s second-largest sugar producer, plans to use the funds raised for expansion and acquisition. The sale was arranged by Morgan Stanley and Credit Suisse First Boston.