Retail investors rush to Banco do Brasil share sale

Retail investors rush to Banco do Brasil share sale

Equity Funds Asset Management Capital Markets Brazil

Banco do Brasil received close to BRL7 billion ($1.73 billion) in orders from retail investors in a follow-on equity offering last week, according to the B3 stock exchange in São Paulo."In the case of Banco do Brasil," CEO Rubem Novaes said in a press release from B3, "our clients ordered the equivalent of BRL3.3 billion in shares."Banco do Brasil moved BRL5.84 billion in the share sale, earning BRL2.82 billion for itself and BRL3.02 billion for the FGTS, a federal workers' severance fund manage

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