Caixa Seguridade has filed for a secondary share offering involving 82.5 million common shares, with an estimated total value of 1.32 billion reais. The offering comes after approval from Caixa Economica Federal and will be priced on March 19.
Caixa Seguridade, a Brazilian state-run insurance firm, recently disclosed its filing for a secondary share offering. This offering is primarily a sale of stock owned by its controller, Caixa Economica Federal, which holds over 80% of the company.
The decision to proceed with this offering was anticipated since late 2024, when Caixa Economica Federal gave its approval following extensive evaluations. The upcoming offering, as detailed in a securities filing, will involve the sale of 82.5 million common shares.
At the closing price of 15.99 reais per share on Friday, the total value of the offering amounts to approximately 1.32 billion reais, equivalent to $227.94 million. The pricing of the offering is set for March 19, with the transaction managed by Itau BBA, Caixa Economica Federal, BTG Pactual, Bank of America, and UBS BB.
In summary, Caixa Seguridade’s filing for a secondary share offering marks a significant financial movement, anticipated since late 2024. The offering involves a substantial share sale by Caixa Economica Federal and is estimated to generate significant proceeds. The pricing event is set for March 19, under the management of several prominent financial institutions.
Original Source: www.tradingview.com
