Moove Set to End Brazil IPO Drought With $438 Million US Listing

Moove Lubricants Holdings, a unit of conglomerate Cosan SA, and its shareholders are seeking to raise as much as $438 million in a US IPO that’s set to end a three-year listing drought for Brazilian companies.

The Sao Paulo-based producer and distributor of lubricants and greases is offering 6.25 million shares in its initial public offering, according to a filing Tuesday with the US Securities and Exchange Commission.

Private equity firm CVC Capital Partners Plc, which has a 30% stake, is selling 12.5 million shares, while Cosan is selling another 6.25 million, totaling 25 million shares, without ...