Brazil’s BRC to file for public company registration

Brazil’s BRC to file for public company registration
Published: 21 April 2011

Brazilian cement project BRC Cimentos plans to file for a public company registration in the next 30 days, Chairman Felício Rosa Valarelli Jr said Wednesday.

The company has set up an office in New York, defined the coordinators of its initial public offering and is now working on the prospectus to be presented to the market.

BRC will offer 40- 50% of the company’s shares in the IPO and proceeds will be used to finance the construction of four plants as well as the purchase of new limestone deposits.

BRC is controlled by Intelex, in which Valarelli holds a 70% stake and a US pension fund the remaining 30%.