BR Distribuidora shares rise on first day

BR Distribuidora shares rise on first day

Capital Markets IPO Equity Brazil

Shares in BR Distibuidora rose 6.67% to close at BRL16 ($4.86) on the first day of trading, after pricing at low end of the targeted price range in an IPO last week. Brazil's state-owned energy company Petrobras earned BRL5.02bn from the sale of 335m shares for BRL15 each in the IPO. The bookrunners had previously set the price range between BRL15 and BRL19. Citi was the lead coordinator on the IPO, while Bank of America Merrill Lynch, BB Investimentos, Bradesco, Itau BBA, JPMorgan, Morgan Stanl

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