CSN asks securities regulator permission to launch mining IPO

Tuesday, 20 October 2020 21:08:19 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said this week it has filed a request within Brazilian securities exchange commission, CVM, to launch the IPO of its mining business.

CSN said its board of directors has approved the company’s IPO launch in a meeting on October 15. The company said it expects to offer shares of its mining business at São Paulo stock exchange B3, adding that the conditions and the pricing of the proposed stock offering are yet to be set.

CSN said it plans to use the proceeds of the IPO offering to reduce debt.

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