Provides CSN remark in securities submitting
SAO PAULO, Aug 25 (Reuters) – Brazilian steelmaker Companhia Siderurgica Nacional CSNA3.SA has employed banks to handle the preliminary public providing of its mining unit, CSN Mineracao, newspaper Valor Economico reported on Tuesday.
Bank of America, XP Inc, Banco BTG Pactual SA and Morgan Stanley will handle an providing that may elevate 10 billion reais ($1.81 billion), the report stated, citing nameless sources.
For the reason that starting of this yr, CSN’s executives have been saying they deliberate to revive the IPO of CSN Mineracao, which incorporates the iron ore mine Casa de Pedra.
In a securities submitting late on Tuesday, the corporate repeated that it was contemplating an IPO of the unit, with out providing additional particulars.
Shares in CSN closed the buying and selling day up 1.99% at 14.84 reais, after beginning the day down 2.2%.
($1 = 5.52 reais)
(Reporting by Carolina Mandl; Extra reporting by Gram Slattery in Rio de Janeiro; Modifying by Cynthia Osterman and Muralikumar Anantharaman)
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