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Petrobras Distribuidora IPO prices at bottom of suggested range


 

By Reuters Staff

SAO PAULO
Petroleumworld 12 14 2017

Brazil's state-controlled oil company Petroleo Brasileiro SA on Wednesday priced the initial public offering of its distribution unit, Petrobras Distribuidora SA, at the bottom of the suggested range.

Securities regulator CVM reported that the offering priced at 15 reais per share, raising 5.02 billion reais ($1.52 billion) for the oil firm known as Petrobras in the biggest Brazilian IPO since the local unit of retailer Carrefour SA was listed in July.

($1 = 3.31 Brazilian reais)



Reporting by Tatiana Bautzer and Brad Haynes, editing by G Crosse from Reuters.

reuters.com 12 13 2017

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