Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Banco do Brasil announces $1.39 billion share offering, to be priced Oct. 17

Published 10/03/2019, 09:39 AM
Updated 10/03/2019, 09:39 AM
© Reuters. FILE PHOTO: The Banco do Brasil logo is seen outside a bank office in Sao Paulo

SAO PAULO (Reuters) - State-controlled Banco do Brasil SA (SA:BBAS3) announced on Thursday a 5.75 billion real ($1.39 billion) secondary share offering.

In a securities filing, the bank said it will sell up to 132.5 million common shares, owned by severance workers fund FGTS and the bank's treasury.

The offering will be managed by the investment banking units of Caixa Economica Federal, Banco do Brasil, JPMorgan Chase & Co (NYSE:JPM), Credit Suisse (SIX:CSGN) Group AG and XP Investimentos.

© Reuters. FILE PHOTO: The Banco do Brasil logo is seen outside a bank office in Sao Paulo

The bank expects to price the offering on Oct. 17, it said in a securities filing. Considering closing prices on Wednesday, shareholders may raise 5.75 billion reais.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.