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The logo of Brazilian state oil company Petrobras can be seen at its headquarters in Rio de Janeiro, Brazil on October 16, 2019. REUTERS / Sergio Moraes / File Photo
SAO PAULO, June 30 (Reuters) – Brazilian state-owned oil company Petroleo Brasileiro SA (PETR4.SA), known as Petrobras, said on Wednesday it had raised 11.36 billion reais ($ 2.3 billion ) as part of the largest stock offering of the year in the country.
Petrobras has sold all of its remaining 37.5% stake in its former subsidiary, fuel distributor Petrobras Distribuidora SA (BRDT3.SA), in a secondary share offer at a price of R $ 26 per share Petrobras Distribuidora, the company said in a filing.
The company’s file confirmed earlier information from a source with knowledge of the matter.
This implies a value of 11.36 billion reais based on Petrobras’ previous announcement that 436.9 million shares would be sold on the divestment.
The secondary offering price of the shares represents a 2.5% discount from the closing price of Distribuidora shares of 26.68 reais on Wednesday.
Petrobras effectively privatized Distribuidora two years ago as part of another share offering, but retained a minority stake which it has now fully sold.
($ 1 = 4.9701 reais)
Reporting by Tatiana Bautzer; Edited by Christian Schmollinger
Our Standards: The Thomson Reuters Trust Principles.
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