April 16, 2021 |
Brazilian oil and gas company PetroRecôncavo set a target price range for an initial public offering (IPO) that could be worth as much as BRL1.84 billion ($328 million), according to a preliminary prospectus.
PetroRecôncavo put the range at BRL15.50 to BRL19.50 per share and said it plans to sell 70 million shares in a base offering with the option to increase the size of the deal by 35%.
The Bahia-based company would earn BRL1.37 billion at the top end of the range for the base offering and up
Brazilian oil and gas company aims to raise up to $328 mln and use the proceeds to acquire assets from Petrobras