July 28, 2017 / 12:35 PM / 8 months ago

Brazil's IRB shareholders see positive earnings impact from IPO

SAO PAULO, July 28 (Reuters) - Financial institutions that held stakes in IRB Brasil Resseguros SA will see a positive contribution to earnings from the 2 billion real ($634 million) initial public offering of Brazil’s largest reinsurer, according to securities filings on Friday.

Banco do Brasil SA, Banco Bradesco SA and BB Seguridade SA said the IPO will contribute 100.9 million reais, 129.4 million reais and 154.2 million reais to earnings, respectively, or more if the full supplementary allotment is sold.

Itaú Unibanco Holding SA, which also holds an indirect stake in IRB, did not release a statement on the issue at the same time as its peers.

$1 = 3.15 reais Reporting by Bruno Federowski; Editing by Bernadette Baum

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