October 3, 2019 / 1:22 PM / 15 days ago

UPDATE 1-Banco do Brasil announces $1.39 billion share offering, to be priced Oct 17

(Adds offering details, context)

SAO PAULO, Oct 3 (Reuters) - State-controlled Banco do Brasil SA announced on Thursday a 5.75 billion real ($1.39 billion) secondary share offering.

In a securities filing, the bank said it will sell up to 132.5 million common shares, owned by severance workers fund FGTS and the bank’s treasury.

The offering will be managed by the investment banking units of Caixa Economica Federal, Banco do Brasil, JPMorgan Chase & Co, Credit Suisse Group AG and XP Investimentos.

The bank expects to price the offering on Oct. 17, it said in a securities filing. Considering closing prices on Wednesday, shareholders may raise 5.75 billion reais.

$1 = 4.1239 reais Reporting by Tatiana Bautzer Editing by Andrew Heavens and Bernadette Baum

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