Navios South American Logistics, a unit of Navios Maritime Holdings, has applied for an initial public offering in Brazil.
The company is one of the largest logistics companies in the Hidrovia region of South America, serving the storage and marine transportation needs of petroleum, agricultural and mining customers through its port terminals, river barge and coastal cabotage operations.
Bank of America is the lead manager of the offering. Itau BBA , UBS and BTG Pactual banks will also participate in the transaction.
Navios and its partners plan to sell Brazilian Depositary Receipts in the Brazilian stock exchange B3 SA as part of the IPO.
The company intends to use the funds raised in the IPO to finance capital expenditure and repay loans.