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Report: Banco do Brasil planning follow-on offering worth up to 7.9B reais

Banco do Brasil SA is preparing a follow-on share offering that could total up to 7.9 billion Brazilian reais, Reuters reported, citing three people with knowledge of the matter.

The offering could be priced by September-end, one of Reuters' sources said.

Itau Unibanco Holding SA, XP Investmentos SA, Caixa Econômica Federal, Credit Suisse Group AG, JPMorgan Chase & Co. and Banco do Brasil will manage the transaction, according to Reuters' sources.

FI-FGTS, an investment fund managed by Caixa, earlier said it is looking at alternative options, which does not exclude a secondary public offering, for the sale of its 2.5% stake in Banco do Brasil. The Brazilian government and Banco do Brasil itself could tap into the share offering, doubling the deal's size, Reuters' sources said.

As of Aug. 5, US$1 was equivalent to 3.94 Brazilian reais.