- Caixa Seguridade priced its IPO at BRL 9.67 per share;
- Caixa will sell 571.5 million shares of Caixa Seguridade;
- It is the first initial public offer this month in Brazil to be priced within the estimated range.
Brazilian Caixa Econômica Federal will raise BRL 5 billion with the IPO of the Caixa Seguridade unit, two sources with knowledge of the matter said.
Caixa Seguridade priced its IPO at BRL 9.67 per share, the sources said. It is the first initial public offer this month in Brazil to be priced within the estimated range, which was between BRL 9.33 and BRL 12.67.
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Other companies that priced stock offers this month had to reduce the indicative range to complete their operations.
Caixa will sell 571.5 million shares of Caixa Seguridade, considering additional lots of papers. One of the sources said the offer had strong demand from local retail investors.
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The first IPO of a state-owned company under Jair Bolsonaro‘s government has been a test after he intervened at the helm of Petrobras and Banco do Brasil.
