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Banco do Brasil share sale generates 5.84B reais

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Banco do Brasil share sale generates 5.84B reais

Banco do Brasil SA priced its secondary share offering at 44.05 Brazilian reais apiece, generating about 5.84 billion reais for the bank and workers' severance fund FI-FGTS.

The two entities sold a combined 132,506,737 Banco do Brasil shares, with the bank off-loading 64 million shares held in treasury and the fund selling 68,506,737 shares.

Banco do Brasil temporarily suspended its financial guidance when it announced the offering's launch earlier in October.

Caixa Econômica Federal, BB-Banco de Investimento SA, Banco de Investimentos Credit Suisse (Brasil) SA, Banco Itaú BBA SA, Banco J.P. Morgan SA and XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários SA managed the sale, according to a filing.

As of Oct. 17, US$1 was equivalent to 4.14 Brazilian reais.