Banco do Brasil announced that it has hired the local Brazilian offices of Bank of America (NYSE: BAC), Citigroup (NYSE: C), along with BTG Pactual, a Brazilian securities company, to manage its planned stock offering.
Banco do Brasil, the largest bank by assets in Latin America is aiming to sell up to 15 billion reals ($8.1 billion) between a primary and secondary stock offering.
The offering breaks down to roughly 286 million new shares in the primary offering, which would raise an estimated 8 billion reals. The rest would come through a secondary stock offering.
The lead underwriter of the deal is Banco do Brasil’s securities unit BB Banco.
