Rio de Janeiro – Petrobras announced this Tuesday (3) a market offering of part of its share of the stocks of Petrobras Distribuidora S.A. (BR Distribuidora). The company notified the market on the public offer, but the registration request of the deal will still undergo a review of the Security and Exchange Commission (CVM).
“The base share offer will be 25% and may arrive to up 33.75% of the company’s share capital, depending on the additional lot exercise and the supplementary lot,” the company said.
In May, Petrobras board approved how the company will sell its majority stake at BR Distribuidora on the stock market. After selling the shares, Petrobras is expected to remain with a lower-than-50% share of the BR Distribuidora shares.
Translated by Guilherme Miranda