A secondary share offering for Brazilian insurance firm Caixa Seguridade was priced at 14.75 reais per share, the company said in a securities filing on Thursday, with the deal totaling about 1.22 billion reais ($216 million).
The offering was made by its controlling shareholder, state-run lender Caixa Economica Federal, and the price represented a 5.5% discount to Caixa Seguridade’s Wednesday closing.
Caixa Economica Federal sold a total of 82.38 million common shares of Caixa Seguridade as part of the transaction, which was managed by Itau BBA, Caixa, BTG Pactual, Bank of America and UBS BB.
Caixa Seguridade had filed for the offering earlier this month, after saying in late 2024 that its controller had authorized it to move forward with the offering following months of studies.
The deal marked the first share offering in Brazil since October, when energy company Eneva ENEV3.SA raised 3.2 billion reais in a primary offering, as such moves had dried up amid high interest rates and risk aversion.
Local newspaper Valor Economico first reported the pricing late on Wednesday.
($1 = 5.6490 reais)
(Reporting by Andre Romani and Gabriel Araujo; editing by Kylie Madry and Mark Potter)
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