Caixa Seguridade has completed a secondary share offering at 14.75 reais per share, raising about 1.22 billion reais ($216 million). Conducted by its controlling shareholder, Caixa Economica Federal, the offering marked the first such event in Brazil since October, with pricing reflecting a 5.5% discount from previous shares.
On March 20th, it was announced that Caixa Seguridade, a Brazilian insurance provider, successfully priced its secondary share offering at 14.75 reais per share. This transaction, totaling approximately 1.22 billion reais, equates to $216 million. The offering was conducted by Caixa Economica Federal, its controlling shareholder, representing a 5.5% discount from the closing price the previous day.
The sale involved 82.38 million common shares sold as part of the transaction. The deal was overseen by several financial institutions, including Itau BBA, BTG Pactual, Bank of America, and UBS BB. Earlier this month, Caixa Seguridade had initiated the offering after gaining authorization from its controller in late 2024, following an extensive evaluation period.
Notably, this share offering is significant as it represents the first in Brazil since October, when Eneva raised 3.2 billion reais through a primary offering. The market for such offerings had been largely inactive, attributed to high interest rates and prevailing investor risk aversion. As reported by local newspaper Valor Economico, the pricing details emerged late on Wednesday.
The secondary share offering by Caixa Seguridade illustrates a significant financial maneuver, yielding $216 million and marking a notable return to the Brazilian equity market. Led by Caixa Economica Federal, this week’s share sale highlights the recovery potential in a challenging economic environment, following a long hiatus in new offerings. The successful pricing reflects both investor confidence and the strategic decisions by Caixa Seguridade’s management to proceed after thorough analysis.
Original Source: www.marketscreener.com
