January 22, 2020 / 12:50 PM / a month ago

Petrobras to price secondary share offering on Feb. 5

SAO PAULO, Jan 22 (Reuters) - Brazil’s Petrobras said in a securities filing on Wednesday that it will price a secondary share offering on Feb. 5, through which development bank BNDES will seek to divest part of its stake in the oil company.

The share offering could total 19.56 billion reais ($4.66 billion) consider Petrobras’s closing share price as of Tuesday.

The shares are expected to begin trading on Feb. 7 in Brazil, Petrobras said.

BNDES is divesting common shares of the oil company, but is keeping the preferential shares that it holds. ($1 = 4.1999 reais) (Reporting by Luciano Costa, editing by Louise Heavens)

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