July 7, 2017 / 9:51 PM / 8 months ago

Reinsurer IRB Brasil files for IPO in wave of offerings

SAO PAULO, July 7 (Reuters) - IRB Brasil Resseguros SA, Brazil’s largest reinsurer, filed on Friday a plan for an initial public offering in the São Paulo Stock Exchange, adding to a wave of listings despite mounting political turmoil.

Shareholders including Brazil’s Fundo de Garantia de Operações de Crédito Educativo, BB Seguros Participações SA, Bradesco Seguros SA and Itaú Seguros SA will sell some of their stakes in IRB Brasil as part of the IPO, a prospectus posted on the website of securities industry watchdog CVM showed.

The investment-banking unit of Banco Bradesco SA will underwrite the offering, alongside those of Banco do Brasil SA, Itaú Unibanco Holding SA and JPMorgan Chase & Co. Others include Grupo BTG Pactual SA, bank of America Corp and Banco Brasil Plural SA, the prospectus showed. (Reporting by Guillermo Parra-Bernal; Editing by Bill Trott)

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