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Moove Lubricants Targets Up to $1.94 Billion Valuation in $400 Million US IPO

Oct 1, 2024, 01:35 PM

Moove Lubricants, a Brazilian lubricant producer backed by CVC Capital Partners, has set the terms for its upcoming US IPO. The company aims to achieve a valuation of up to $1.94 billion, with a market cap ranging between $1.6 billion and $1.94 billion. Moove Lubricants plans to offer 25 million shares at a price range of $14.50 to $17.50 per share. The IPO is expected to raise as much as $438 million and is set to trade on October 10. This IPO, which aims to raise $400 million, will mark the end of a three-year listing drought for Brazilian companies in the US market.