30.05.2012 - Manabi seeks Batista gains in bear-market IPO: Corporate Brazil
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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