Reinsurer IRB Brasil files for IPO in wave of state offerings
SAO PAULO Aug 25 (Reuters) - IRB Brasil RE SA, Brazil's largest reinsurer, filed on Tuesday a plan for an initial public offering in the São Paulo Stock Exchange.
Shareholders including BB Seguros Participações SA, Bradesco Auto RE and Itaú Seguros, all three part of Brazil's top-three commercial lenders, will sell some of their stakes in IRB Brasil as part of the IPO plan, according to a prospectus on the transaction.
The offering will be managed by the investment-banking unit of Banco Bradesco SA, with Banco do Brasil SA , Itaú Unibanco Holding SA and JPMorgan Chase & Co working as global coordinators, the prospectus said.
(Reporting by Guillermo Parra-Bernal; Editing by Bernard Orr)
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