Caixa Seguridade of Brazil has filed for a secondary share offering involving 82.5 million shares owned by its controller, Caixa Economica Federal. The offering is valued around 1.32 billion reais and will be priced on March 19, with several major banks managing the transaction.
Brazil’s state-run insurance company, Caixa Seguridade, officially filed for a follow-on share offering, primarily consisting of a secondary sale of shares from its controller, Caixa Economica Federal. This action was anticipated since late 2024 when Caixa, holding over 80% of Caixa Seguridade, had granted approval for the offering following comprehensive assessments.
The anticipated offering will consist of the sale of 82.5 million common shares. Based on the closing price of 15.99 reais per share on the previous Friday, the total value of the deal is projected to be approximately 1.32 billion reais, equivalent to around $227.94 million.
The pricing for the share offering is scheduled for March 19. The transaction will be managed by several prominent financial institutions including Itau BBA, Caixa Economica Federal, BTG Pactual, Bank of America, and UBS BB.
In summary, Caixa Seguridade has initiated a secondary share offering, enabling the sale of 82.5 million stock shares owned by Caixa Economica Federal. The offering, valued at 1.32 billion reais, is set for pricing on March 19, with the transaction being overseen by leading financial institutions. This strategic move follows prior authorization from Caixa, marking a significant step for the company in the market.
Original Source: www.tradingview.com
