Banco do Brasil announces $1.39 billion secondary share offering: filing

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SAO PAULO (Reuters) – State-controlled Banco do Brasil SA (SA:) announced on Thursday a 5.75 billion real ($1.39 billion) secondary share offering.

In a securities filing, the bank said it will sell up to 132.5 million common shares, owned by severance workers fund FGTS and the bank’s treasury. Considering closing prices on Wednesday, shareholders may raise 5.75 billion reais.

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