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Banco do Brasil closes 5.84B reais follow-on offering

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Banco do Brasil closes 5.84B reais follow-on offering

Banco do Brasil SA on Oct. 23 closed its secondary share offering, which was priced at 44.05 Brazilian reais per share and generated about 5.84 billion reais for the selling shareholders.

The offering comprised 132,506,737 Banco do Brasil shares, with the bank off-loading 64,000,000 shares held in treasury and workers' severance fund FI-FGTS selling 68,506,737 shares.

As of Oct. 23, US$1 was equivalent to 4.06 Brazilian reais.