Caixa Seguridade’s secondary share offering raised $216 million, priced at 14.75 reais per share, with a 5.5% discount. The deal involved the sale of 82.38 million shares by Caixa Economica Federal and was managed by several banks. This offering is notable as the first in Brazil since October due to challenging economic conditions.
On March 20, a secondary share offering for Brazil’s Caixa Seguridade was executed, priced at 14.75 reais per share, totalling approximately 1.22 billion reais ($216 million) according to a company securities filing. The deal, led by Caixa Economica Federal, the controlling shareholder, was discounted by 5.5% compared to the closing price of the previous day.
A total of 82.38 million common shares were sold as part of this transaction, which was managed by several financial entities including Itau BBA, Caixa, BTG Pactual, Bank of America, and UBS BB. Earlier this month, Caixa Seguridade had applied for the offering following its controller’s approval in late 2024, after comprehensive analyses were conducted.
This offering represents the first share issuance in Brazil since October, when Eneva successfully raised 3.2 billion reais in a primary offering amidst a period of high interest rates and reduced investor appetite. The pricing details were first reported by local newspaper Valor Economico.
In summary, Caixa Seguridade’s secondary share offering has successfully raised $216 million at a discounted price. This marks a significant event as it is the first share offering in Brazil since October, signaling a potential resurgence in the capital markets despite prevailing economic conditions. The involvement of major financial institutions highlights the strategic importance of this offering.
Original Source: www.marketscreener.com
