September 11, 2019
The Rio Grande do Sul state government could raise around BRL2.31bn ($564m) from the sale of shares in the state-controlled lender Banrisul, based on Wednesday's closing price.
Banrisul announced in a securities filing that the state government intends to sell 96.3m common shares in the bank and price the follow-on offering on September 17. After the announcement, Banrisul's shares rose 3.36% to end the day at BRL23.96.
The state government said in July that it planned to sell an additional stak
State government could raise $565m from the sale of an additional stake in the bank