May 19, 2017 / 9:39 PM / in a year

Brazil reinsurer IRB to register for initial public offering

SAO PAULO, May 19 (Reuters) - Brazil’s reinsurer IRB Brasil Resseguros SA has received approval from its shareholders to file with securities industry watchdog CVM for an initial public offering of shares, its leading shareholders said on Friday.

Shareholders Banco Bradesco SA, Itaú Unibanco Holding SA and Banco do Brasil SA’s insurance unit BB Seguridade Participações SA said in regulatory filings the IPO should include a secondary offering of shares in which current shareholders can sell part of their stakes. (Reporting by Tatiana Bautzer; editing by Diane Craft)

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