BB Seguridade IPO Chugs Along

BB Seguridade IPO Chugs Along

Brazil Equity

Banco do Brasil is moving ahead with plans to carve out its insurance operation, and is ready to submit the matter to shareholders, it says. The bank has not commented on the size, though the market is expecting as much as BRL5bn ($2.51bn). Realization of the IPO “will depend on favorable conditions in the international and domestic capital markets,” the bank says. The timing is unclear, but ECM estimate the transaction may arrive during the June-July issuance window. The deal for the unit to be

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