Compass IPO Ends Brazil’s 5-Year IPO Drought, Raises up to US$630M

Markets: São Paulo

Key Facts

—Pricing. Compass, the natural-gas holding controlled by Cosan, priced its IPO at R$28.00 (about US$5.51) per share, the bottom of the R$28–R$35 (about US$5.51–US$6.89) range.

—Size. The sale of about 89.3 million shares raised roughly R$2.5 billion (about US$492 million), rising to as much as R$3.2 billion (about US$630 million) with the over-allotment.

—Listing. Shares began trading on the B3 exchange in São Paulo on 11 May 2026 under the ticker PASS3, in the Novo Mercado segment.