June 13, 2019 |
The Rio Grande do Sul state government said it is interested in selling shares in Banrisul without losing control of the state-owned lender.
The state government added that it has retained Banrisul itself to study a possible follow-on offering on the B3 stock market in São Paulo.
Shares in Banrisul dropped 2.41% to close at BRL23.52 ($6.08) after the announcement on Wednesday.
The state government earned BRL537m from two follow-on offerings in Banrisul in April last year. After Gov. Eduardo L
State government looks to float a larger stake in the local lender without losing control