Brazil’s waste processor Orizan concludes $103 million IPO | Reuters

Brazil’s Orizan Valorizacao de Residuos SA, which turns waste into biofuel, has concluded a 554 million reais ($103.23 million) initial public offering, according to a securities filing on Thursday.

Orizan priced its offering at 22 reais per share, compared with an indicative range of 20 reais to 27 reais per share.

The company raised 381.4 million reais, while shareholders sold 172.6 million reais in stock. ($1 = 5.3665 reais) (Reporting by Aluisio Alves; Editing by Sam Holmes)

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