Cosan (B3: CSAN3; NYSE: CSAN) has disclosed the filing of documentation for a secondary public offering of common shares of its subsidiary Compass Gas and Energy. The filing was made on April 27. The offering will be conducted in Brazil and involves shares held by Cosan and other selling shareholders named in the preliminary prospectus.
Under the terms of the offering, Cosan may sell shares representing approximately 15% of Compass’s total capital stock. This percentage includes the base offering, an additional lot, and a supplemental lot. The exact number of shares that Cosan will sell will be determined through a bookbuilding process. The price per share will be set on the pricing date, based on the results of that process.
To allow Cosan to participate as a selling shareholder, a partial spin-off of its subsidiary Cosan Dez Participacoes was completed on the same date. The spun-off assets were incorporated by Compass. In exchange, Compass issued 142,838,019 new common shares to Cosan. These shares represent about 20% of Compass’s capital stock. Previously, Cosan held this stake indirectly through Cosan Dez. After the spin-off, Cosan now directly holds 20% of Compass. The transaction did not change Cosan’s own capital stock or net equity.
The secondary offering means Cosan is selling existing shares, not issuing new ones. The offering is subject to market conditions and the completion of the bookbuilding process. This transaction is part of a broader move that increases Cosan’s direct stake in Compass while reducing its indirect holdings. The documentation filed on April 27 includes all details required by Brazilian securities regulators for a secondary public distribution.
- Brazil’s social ‘vitamin’ may be best medicine for a funk - abril 28, 2026
- Brazil Compass announces R$2.5 billion IPO - abril 28, 2026
- Brazil woman embraces life after rare cancer diagnosis - abril 27, 2026
