Argentina’s Comodoro Rivadavia Plans Brazil IPO

Argentine petrochemicals firm Petroquímica Comodoro Rivadavia (PCR) is considering an IPO in Argentina, Brazil, and possibly in other international markets. The company hopes to raise as much as ARP930m ($295m) and may also issue up to $250m in bonds. Last month, Banco Patagonia listed on the Merval, the Bovespa and New York, raising $260m. PCR’s plan is subject to shareholder approval, which is expected at the end of August. Last week, Argentina’s MercadoLibre , an online auction company, priced an IPO on the Nasdaq at $18, in one of the most volatile days on global equity markets since the aftermath of the terrorist attacks of 9/11. MercadoLibre saw its shares soar 58% in the aftermarket and has held steady off the highs.