board of directors Kosan This Tuesday (11th), approval was granted to substantially increase the share capital within the approved amount and to carry out a second share offering with the issuance of 287.5 million shares for a total amount of R$ 1,437.5 million. Upon approval, the company’s capital will be 10,282,738,100.99 reais, divided into 3,966,570,932 shares. Taking into account the first and second IPOs, the company will raise R$10.5 billion.
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As notified to the market, of the 5 reais per share issued, 1 reai will be allocated to Cosan’s share capital and 4 reais will be allocated to capital reserves. The new stock is B3 From November 13th, physical payment will be made on November 14th.
In the first offering, Kosan did not offer depository certificates (ADS) representing the company’s common stock, and there are no plans to do so in this second offering. Kosan will also suspend the issuance of ADS for 40 days after the end of the second round of recruitment.
Because there is no procedure in place to stabilize the price of newly issued common shares after the offering, “the price of the shares in the B3 secondary market may fluctuate significantly after the issuance of the shares,” the company said in a note.
The company emphasized that the resources raised through the second public offering can be used to strengthen not only its capital structure, but also that of its subsidiaries and investees. Risenaimed at improving the credit and liquidity profile of the company and directly and indirectly benefiting shareholders.
Furthermore, the company says it will continue to hold discussions with the government. shell A potential capital utilization option for Risen to “strengthen its capital structure and long-term strategy.”
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