Codesp plans for an Initial Public Offering
May, 03, 2019 Posted by datamarnewsWeek 201919
The President of Santos Port Authority (Codesp), Casemiro Tércio Carvalho, is planning for an initial public offering (IPO) of Codesp, according to an announcement he made at a Porto & Mar Seminar conducted by A Tribuna earlier this week. Preparation for the IPO by Codesp will involve an internal restructuring of the company as well as a series of concessions of port areas. Carvalho indicated the public offering is likely to take place in three years time.
According to Codesp’s president, the new model of management is likely to allow the government to continue holding the bulk of the shares or “golden shares,” and there will be a cap on how many shares an individual stakeholder can purchase.
Codesp closed 2018 with a R$468.7m loss due to unpaid fees from Libra Terminal, instead of an expected R$50m profit. According to A Tribuna, the port secretariat is devising a master plan for all the public ports, including Santos, to determine what assets or aspects should be given up for privatization.
DatamarNews reported Codesp is already studying which services at the port facility can be part of the privatization. The plan is to privatize particular services rather than the whole port. Some of the services that Codesp is considering privatizing include navigation channel management, dredging, and management of land access to the port.
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An opinion about “Codesp plans for an Initial Public Offering”
Excelente matéria. Na atual situação politica que estamos precisamos de estratégias que promovam o crescimento do nosso país, principalmente quando falamos em infraestrutura. Pena que os planos ainda irão demorar a acontecer mais bom saber que desde já os planejamentos começaram.