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Report: Brazil's Unigel mulling mid-2014 IPO

11:44 AM MDT | June 18, 2013 | Francinia Protti-Alvarez

Unigel (São Paulo), Brazil's second-largest petrochemical manufacturer after Braskem (São Paulo), is considering an initial public offering for mid-2014, according to a report from Brazil's Agência Estado. The report notes that recent fiscal changes in Brazil, including tax cuts targeting the petrochemical and ethanol sectors, will result in an annual benefit of 100 million reais ($46.5 million), or about 4% of the R$2.6 billion sales reported in 2012, the report adds. Unigel's plan to revive the IPO route in mid-2014 would give the...

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