February 18, 2021
Banco de Brasília (BRB), a bank owned by the government of the Federal District in Brazil, plans to issue new shares by September this year to cover an expected increase in lending, CEO Paulo Henrique Costa said in an interview with the local financial newspaper Valor Econômico.
"Everyone is looking for an IPO, and we are also going to enter [the market] by issuing more shares," Costa was quoted as saying.
The state-owned bank plans to increase the free float to 30% from 3.15% in the planned sha
Federal District-owned bank aims to increase its free float to 30% as it raises funds to increase lending