Following a record-breaking IPO, BB Seguridade debuts on the Stock Exchange.
The insurance, pension, and capitalization arm of Banco do Brasil, headed by Aldemir Bendine, raised R$ 11,5 billion in its initial public offering (IPO), with shares sold at R$ 17; in Brazil, it is the largest IPO since 2009 and, globally, the largest in the last seven months.
247 – After the initial public offerings of BB Seguridade and Smiles concluded last Thursday, the companies will debut on the stock exchange this Monday, the 29th. The operations together moved R$ 12,63 billion, with the shares of the insurance, pension, and capitalization arm of Banco do Brasil being sold at R$ 17. This means that R$ 11,5 billion in resources will go to the bank's coffers, presided over by Aldemir Bendine.
BB Seguridade's IPO is the largest in Brazil since 2009, when Santander raised R$ 13,2 billion, and also the largest in the world in the last seven months, since Japan Airlines' offering in September of last year. The BB subsidiary arrives on the stock exchange valued at R$ 34 billion, which represents almost half of the bank's market capitalization.
Meanwhile, Gol's mileage program reported raising R$1,13 billion in its initial public offering, with investor demand eleven times higher than the amount offered.