Voto Files with SEC for Cement IPO

Votorantim Cimentos is advancing its IPO plans, filing a preliminary prospectus with the US Securities and Exchange Commission on Wednesday for the sale. The document shows a $5.4bn maximum proposed offer price. BTG Pactual, Credit Suisse, Itau, JPMorgan and Morgan Stanley are managing sale. The proceeds are to fund organic growth, to diversify the firm’s Brazilian product range, for strategic investments and potentially for acquiring heavy building materials firms. The firm reported Ebitda of BRL3.07bn ($1.55bn) in 2012.