Caixa insurance unit files for IPO

Caixa insurance unit files for IPO

IPO Equity Capital Markets Corporate & Sovereign Strategy Brazil

Caixa Seguridade, the insurance business of the Brazilian state-owned savings bank Caixa Econômica Federal, filed documents on Friday to conduct an initial public offering (IPO) on the B3 stock exchange in São Paulo. The bank will lower its stake in its insurance division by selling existing shares in a secondary offering, coordinated by Banco do Brasil, Bank of America, Bradesco BBI, Brasil Plural, BTG Pactual, Credit Suisse, Itaú BBA, Morgan, Santander and Caixa itself. Caixa did not reveal th

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