Brazil Potash, the company behind Potássio do Brasil, plans to launch an IPO on the New York Stock Exchange to fund its $2.5 billion Autazes potash project in Brazil’s Amazonas state.
Details such as the number of shares to be offered, the amount to be raised, and the timing of the IPO have not been disclosed. “Furthermore, the scenarios for equity markets in the US and Brazil are pointing in opposite directions. In the US, there is an expectation of a reduction in interest rates in the coming months, which favors investment in shares, while in Brazil, where interest rates remain high, there is an expectation of new increases in interest rates in the coming months, in light of future inflationary pressures,” he said.
The project is pegged to be the largest fertilizer mine in Latin America within the Amazon rainforest.
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