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Brazil's Petrobras prices secondary offering at 30.25 reais per share


Reuters


By Tatiana Bautzer and Carolina Mandl

SAO PAULO, June 25 (Reuters) - Brazilian state-controlled oil company Petroleo Brasileiro SA priced a secondary share offering on Tuesday at 30.25 reais per common share, two sources with knowledge of the matter said.

State-owned lender Caixa Economica Federal has agreed to sell its 2.3% stake in Petrobras at a 1.5% discount to Tuesday's closing price of 30.70 reais per common share. Large demand from foreign investors allowed the offering to price at a discount lower than the 4% average in Brazilian secondary offerings in recent years.

Investment banking units of Caixa, UBS Group , Morgan Stanley , Bank of America and XP Investimentos managed the offering.

($1 = 3.8468 reais)






This article appears in: World Markets , Economy , Banking and Loans , Technology , US Markets , Stocks
Referenced Symbols: BAC ,



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