Rio Grande do Sul banks on Banrisul share sale

Rio Grande do Sul banks on Banrisul share sale

Equity Capital Markets Regulation Brazil US

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

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