Brazil's Orizon files for share offering to raise up to $90 million

SAO PAULO (Reuters) - Brazilian waste treatment company Orizon said on Wednesday it has filed for a share offering aiming to raise as much as 456.1 million reais ($90.96 million).

Orizon Valorizacao de Residuos SA, as the company is formally known, said in a securities filing the offering will be initially comprised of 2.68 million new shares and 8.18 million shares currently owned by the JCI investment fund.

The primary offering may be increased by up to 50% if demand allows it, the company added, noting the offering will be priced on April 27.

Considering Orizon's closing price of 37.38 reais per share on Monday, the move could reach up to 456.1 million reais if the overallotment option is fully sold, it said. BTG Pactual and Santander are managing the transaction.

($1 = 5.0141 reais)

(Reporting by Gabriel Araujo; Editing by Steven Grattan)