BdB Sets Seguridade Meeting

BdB Sets Seguridade Meeting

Brazil Equity

Banco do Brasil’s shareholders will meet February 20 to approve the IPO plan for the BB Seguridade insurance unit, the bank says. The state-controlled lender has not commented on the size of the transaction, though the market is expecting as much as BRL5bn ($2.51bn), perhaps during the June-July issuance window. The deal is to include both primary and secondary shares, and the bookrunners include Banco do Brasil, BTG Pactual, Bradesco, Brasil Plural, Citi, Itau, and JPMorgan, according to people

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