Cosan Ltd., the world's largest sugarcane processor and Brazil's largest producer of sugar and ethanol, priced its offering of 100 million total shares, of which 86.9 million were common shares and 13.1 million were Brazilian depositary receipts (each equivalent to 1 common share), at $10.50 on Thursday morning. The price is just below Wednesday's closing price of R$23 (~US$11.04) for the operating company, Cosan SA, which already trades on the Sao Paulo Stock Exchange (BOVESPA: CSAN3). Cosan Ltd's common shares have begun trading on the NYSE under the ticker "CZZ;" the BDRs are expected to begin trading on the Sao Paulo exchange under the ticker "CZLT11" later on Thursday.
