The largest bank in Brazil will hold the largest IPO in the world – a $ 6 billion
The largest bank in Brazil, Banco do Brasil plans to raise 12.15 billion Brazilian reais ($ 6.04 billion) due to IPO of its pension and insurance divisions. So far, this is the most ambitious IPO in the world this year.
Banco do Brasil plans to offer up to 675 million ordinary shares of BB Seguridade. Means that the bank will receive from the IPO, he plans to use to strengthen the capital base to support lending to the largest economy in Latin America.
This initial public offering of this Latin American company may be the largest on the continent over the past 4 years. Prior to that, the largest IPO in the continent was offering units of Spanish giant Banco Santander – Banco Santander Brasil – in October 2009, then finance company raised $ 7.5 billion
Also, it will be the largest IPO in the world this year. Recent major IPOs held Japan Airlines in September last year, which allowed the company to raise $ 8.5 billion in the United States, the largest IPO held social network Facebook in May 2012 for $ 16 billion.