Brazil's CSN Mineracao to be valued at up to $11.9 billion in IPO: report

SAO PAULO (Reuters) – Brazilian miner CSN Mineracao aims to be valued at between 47.5 billion and 63 billion reais ($11.91 billion) in an initial public offering to be launched by Friday, the Estadao newspaper reported on Thursday.

CSN Mineracao is controlled by steelmaker Companhia Siderurgica Nacional which plans to raise roughly $1 billion by selling a stake in the miner, the report said.

CSN Mineracao will not raise proceeds in the offering, Estadao said.

The company was not immediately available for comment.

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