Petrobras, Novonor start sale of Braskem stake

Petrobras, Novonor start sale of Braskem stake

Corporate & Sovereign Strategy Equity Brazil United States Capital Markets Energy

Brazil's state-owned oil company Petrobras and local conglomerate Novonor, formerly known as Odebrecht, could raise around BRL7.5 billion ($1.35 billion) from the sale of shares in petrochemical company Braskem, according to securities filings on Friday. Petrobras and Novonor plan to sell 155 million preferred shares in Braskem in a follow-on offering on the B3 stock exchange in São Paulo. They also plan to sell American depositary receipts listed on the New York Stock Exchange (NYSE), Braskem s

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial