Cosan Prepares Secondary Offering of Compass Gas e Energia Shares Cosan S.A., a Brazilian conglomerate, announced on April 28, 2026, that it has disclosed documentation for a secondary public offering of common shares in Compass Gás e Energia S.A. The shares, held by Cosan and other shareholders, will be sold in Brazil's unorganized over-the-counter market. The offering involves approximately 15% of Compass's total share capital, with the final number of shares and price per share to be determined through a bookbuilding procedure under CVM Resolution No. 160. This move is framed as a liquidity event for existing shareholders rather than a primary capital raise for Compass. The transaction follows a partial and disproportionate spin-off of Cosan Dez Participações S.A., completed on Tuesday. This restructuring transferred net equity to Compass, which issued 142,838,019 new common shares to Cosan. The spin-off converted Cosan's indirect interest in Compass into a direct 20% equity stake. Cosan emphasized that this transition does not alter its own share capital or shareholders' equity as reported in its financial disclosures. The operation is described as an ownership adjustment to facilitate the secondary offering, with Cosan maintaining its principal executive offices in São Paulo. The offering adheres to Brazilian financial regulations governing securities negotiations. Market participants are closely monitoring the potential impact on Compass's stock liquidity following the increased share supply. Cosan and Compass stated they will provide updates on the share sale's progress, with pricing finalized on the designated pricing date. The bookbuilding process will determine the effective number of shares, with demand during this phase influencing the valuation of the divested stake.#sao_paulo #cosan_s_a #compass_gas_e_energia_s_a #cvm_resolution_160 #over_the_counter_market
