Planning for the future: OSX boss Eike Batista.
OSX readies $3bn share sale
Brazilian ship builder OSX plans to raise about $3 billion in an initial public offering in Sao Paulo that might be finished as early as mid-March, according to published reports.
Mining and energy tycoon Eike Batista, OSX's owner, has amassed a fortune of more than $10 billion in recent years by selling iron ore, oil and gas, and logistics assets to rivals or offering shares to investors during Brazil's 2006-2008 IPO boom.
The company hired Credit Suisse and Itau Unibanco to handle the offering, IFR said, according to a Reuters report.
OSX declined to comment on the report, invoking a silent period imposed by regulators ahead of securities markets transactions.
According to IFR, OSX officially submitted a preliminary prospectus to local regulators last week, and the process of structuring the offering as well as hosting road shows with investors could take up to six weeks at the least.
Timing for the deal is still unclear and will depend on market conditions, IFR said.