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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Investment, Market

Manabi seeks Batista gains in bear-market IPO: Corporate Brazil

Posted on 30 May 2012

Manabi SA, the first Brazilian iron- ore company to go public since 2006, is counting on Ontario Teachers’ Pension Plan to spark investor interest in its share sale after Brazil’s benchmark stock index entered a bear market.
Rio de Janeiro-based Manabi filed on May 16 to sell shares in Sao Paulo and Toronto to help finance $4.12 billion of iron ore projects in Brazil’s Minas Gerais state. Canada’s third- biggest pension fund is Manabi’s top investor with a 21 percent holding, while South Korea’s sovereign wealth fund and Southeastern Asset Management also have stakes in the company………………………………………..Full Article: Source


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