Brazilian Petrobras is planning to sell shares for 64.5 billions USD
The Brazilian state oil company Petrobras plans to sell new shares worth up to 64.5 billion dollars, which will be one of the largest offerings in the history of capital markets, Reuters reported. Goal is to raise funds for its investment plan for the study of oil reserves. The company will offer preferential 1.59 billion new shares and 2.17 billion new ordinary shares. Based on the closing price of the shares on Thursday, the company will raise 39.2 billion dollars of common shares and another 25.4 billion dollars of preferential. Petrobras plans to determine share price on September 23rd. The investment plan for the company’s demand for oil at sea is worth 224 billion dollars is five years, is expected to become one of Brazil’s biggest exporters of oil. The goal is to raise funds for its investment plan for the study of oil reserves. Among the main objectives of the business managers of the company is undoubtedly acquiring deposits and deposits in the North Atlantic. There BP lost their positions, and for Petrobras is a chance that the geographical expansion.
Such moves are pretty dangerous in the years of unstable economy, but in any case would have responded positively to the Brazilian economy
Tags: Brazil, company, crude oil, oil company, Petrobras, sell, shares, USD