Mining Project Looks to Bovespa

Manabi, a pre-operational Brazilian iron ore miner, is planning to IPO, it says. The company founded last year is seeking funds in an all-primary share offer to develop its Morro Pilar and Morro Escuro projects in the state of Minas Gerias. The size and timing remain to be defined, though a filing this week suggests a launch as soon as late June. Credit Suisse, Goldman Sachs and Itau are managing the sale.