A secondary share providing for Brazilian insurance coverage agency Caixa Seguridade was priced at 14.75 reais per share, the corporate mentioned in a securities submitting on Thursday, with the deal totaling about 1.22 billion reais ($216 million).
The providing was made by its controlling shareholder, state-run lender Caixa Economica Federal, and the value represented a 5.5% low cost to Caixa Seguridade’s Wednesday closing.
Caixa Economica Federal bought a complete of 82.38 million frequent shares of Caixa Seguridade as a part of the transaction, which was managed by Itau BBA, Caixa, BTG Pactual, Financial institution of America and UBS BB.
Caixa Seguridade had filed for the providing earlier this month, after saying in late 2024 that its controller had licensed it to maneuver ahead with the providing following months of research.
The deal marked the primary share providing in Brazil since October, when vitality firm Eneva ENEV3.SA raised 3.2 billion reais in a major providing, as such strikes had dried up amid excessive rates of interest and danger aversion.
Native newspaper Valor Economico first reported the pricing late on Wednesday.
($1 = 5.6490 reais)
(Reporting by Andre Romani and Gabriel Araujo; modifying by Kylie Madry and Mark Potter)
Associated:
Was this text beneficial?
Listed here are extra articles chances are you’ll take pleasure in.
Crucial insurance coverage information,in your inbox each enterprise day.
Get the insurance coverage business’s trusted e-newsletter
