State-owned Brazilian bank Caixa Economica Federal is hoping to raise 15 billion reais ($3.88 billion) through the listing of four of its subsidiaries, chief executive Pedro Guimaraes told newspaper O Globo in an interview published on Saturday.
The bank aims to list its insurance, asset management, lottery and credit card subsidiaries in the second half of 2019 or first half of 2020, Guimaraes said. In January, he had said they could be listed within 12 months.
The company had previously disclosed that it plans to sell minority stakes in the subsidiaries through listings in Sao Paulo and New York.
($1 = 3.8671 reais) (Reporting by Jake Spring, Editing by Rosalba O’Brien)
Topics Carriers
Was this article valuable?
Here are more articles you may enjoy.
Shipper Escapes $41.9M Award for Man Paralyzed When Lights Fell From Pallet on Him 
Acrisure to Cut 2,250 Employees, Citing Advances in Technology and AI 
After Complaint, GEICO Agrees to Modify Cancellation Process That Uses AI 
Warmer World Means Bigger Hail and More Damage, Study Finds 
