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Banrisul lowers amount of shares in secondary offering

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Banrisul lowers amount of shares in secondary offering

Banco do Estado do Rio Grande do Sul SA decreased the number of common shares it will issue in an upcoming secondary offering to 71,350,686 from 96,323,426, according to a Sept. 17 filing.

However, the company said it could still bring the number of offered shares back to the original amount up until the completion of the offering's bookbuilding procedure.

The closing of the bookbuilding process and the setting of the price share were also moved to Sept. 18 from Sept. 17.

The new conditions were approved by the board of the state of Rio Grande do Sul's reform body, or CODPRE, and endorsed by the state's governor.