Copersucar Sets IPO Date

Copersucar expects to price a BRL2bn IPO July 19. The Brazilian sugar and ethanol cooperative plans to offer 86.5 primary and 21.6m secondary shares at a range between BRL14.50 and BRL18.50. Copersucar is seeking funds to shore up its capital structure ahead of planned investments, including BRL200m to be spent in upgrading its Santos port. BAML, Credit Suisse, Goldman Sachs and Itau are leads. Copersucar handles sales, marketing, storage, distribution and other services for its member group of independent Brazilian sugar ethanol producers.