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Biosev’s shares fell 14% in debut

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Shares from Biosev, Louis Dreyfus Holding BV’s Brazil unit, debuted with a 14% fall, after giving investors in its initial public offering a money-back guarantee.

The shares dropped to 12.85 reais at the close of trading in Sao Paulo, according to Bloomberg.

Brazil’s second-largest sugar-cane processor raised 805 million reais ($400 million) by selling shares for 15 reais a piece. According to preliminary prospectus Biosev intended to raise as much as 945 million reais in the stock offering

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