Votorantim Cimentos Files to Raise Up to $5.4 Billion in IPO

Votorantim Cimentos SA, the biggest cement producer in Brazil, filed to raise as much as $5.4 billion in an initial public offering.

The amount is a placeholder that may change. The company applied to list American depositary receipts on the New York Stock Exchange and on the Bovespa, according to a regulatory filing today. Morgan Stanley, JPMorgan Chase & Co., Banco Itau BBA SA, Credit Suisse Group AG and BTG Pactual SA are managing the sale.