Brazilian steelmaker Companhia Siderurgica Nacional (CSN) expects to launch an initial public offering (IPO) of its iron ore business by February 2021, according to company CEO Benjamin Steinbruch. The executive said the company is working to make the IPO happen as soon as possible.
Steinbruch told newspaper Valor that lack of information about the company’s data and the expectation of a better year in 2021 made CSN postpone the IPO plans. CSN first eyed the IPO for December this year.
CSN has been trying to disinvest and raise capital from a number of businesses, as a way to reduce debt.