Moove Lubricants Holdings (MOOV) Announces October 10th IPO

Moove Lubricants Holdings (MOOV) expects to raise $400 million in an IPO on Thursday, October 10th, IPO Scoop reports. The company plans to issue 25,000,000 shares at $14.50-$17.50 per share.

In the last twelve months, Moove Lubricants Holdings generated $1.8 billion in revenue and $90.6 million in net income. The company has a market cap of $1.8 billion.

Moove Lubricants Holdings provided the following description of their company for its IPO: “We are a holding company. Our operating subsidiary produces and distributes automotive, agricultural and industrial lubricants. (Incorporated in the Cayman Islands) We were founded in 2008 after Cosan acquired ExxonMobil’s Brazilian lubricant assets. We serve approximately 140,000 clients throughout South America, the United States and Western Europe. Moove is a global lubricants solutions provider. We specialize in the formulation, manufacturing, distribution, marketing, selling and servicing of lubricant products across a diverse range of end markets and customers. We offer a comprehensive portfolio of products and technical support that is highly tailored to our end markets, while optimizing our cost base, physical footprint and working capital needs to drive unit profitability and cash flow generation.   Note: Net income and revenue are for the 12 months that ended June 30, 2024.  (Note: Moove Lubricants Holdings filed an F-1/A dated Oct. 1, 2024, and disclosed the terms for its IPO: 25.0 million shares at a price range of $14.50 to $17.50 to raise $400.0 million. The company is offering 6.25 million shares and the selling shareholders are offering another 18.75 million shares.) “.

Moove Lubricants Holdings was founded in 2008 and has 2199 employees. The company is located at Av. Brigadeiro Faria Lima, 4,100 – 8th floor São Paulo – SP, 04538-132, Brazil, and can be reached via phone at +55 11 4517-1546 or on the web at https://moovelub.com/en.php/.