Banco do Brasil closes share sale

Banco do Brasil closes share sale

Equity Capital Markets Brazil

Banco do Brasil has moved BRL5.8bn ($1.42bn) in a follow-on offering by selling 133m shares for BRL44.05 each, according to one of the legal advisors on the deal.The state-owned lender earned BRL2.82bn from the sale of 64m shares in the offering, while the federal workers’ severance fund FGTS picked up BRL3.02bn from the sale of 68.5m shares.Caixa Econômica Federal, which manages the FGTS, led the offering with Banco do Brasil's own investment banking division, BB Investimentos, alongside Credit

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