Sao Martinho (SMTO3.SA), a Brazilian sugar and ethanol producer, saw its shares rise by 18.3% in its first day of trading on the Sao Paulo stock exchange.
The IPO follows a string of ethanol company debuts, contributing to a record year on the stock exchange.
Brazil, Latin America’s largest country, requires all gasoline to be blended with cane-based ethanol; over two-thirds of new cars are equipped with flex-fuel engines.
(Visited 795 times, 1 visits today)
Loading...