BdB Advances Seguridade IPO

BdB Advances Seguridade IPO

Brazil Equity

Banco do Brasil has made the initial filing for the carve-out IPO of its BB Seguridade insurance unit, according to regulatory documents. The state-controlled lender does not yet indicate the size of the transaction, though the market is expecting as much as BRL5bn ($2.53bn). The deal is to include both primary and secondary shares, representing up to 40% of the unit. The bookrunners include Banco do Brasil, BTG Pactual, Bradesco, Brasil Plural, Citi, Itau, and JPMorgan, according to people foll

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial