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Article: Brazil's Petrobras Sells 28.5 Percent Of Its Voting Stock, Raising $4 Bn.(Brief Article)(Statistical Data Included)
- Article from:
- Chemical Market Reporter
- Article date:
- August 21, 2000
- Author:
CopyrightCOPYRIGHT 2000 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BRAZIL'S STATE oil and petrochemical company, Petroleos Brasileiros SA (Petrobras), has launched Latin America's biggest stock offer, raising $4 billion through the sale of 28.5 percent of its voting stock, or about 16.6 percent of its equity, in a global offering on August 10.
The sale will enable the company to enhance its massive oil and gas exploration activities, as well as the petrochemical businesses of subsidiary Petroquisa, which owns shares in 11 active chemical producers and two projects under development, spanning all five petrochemical complexes in Brazil.
The stock sale involved simultaneous share offers in Brazil and overseas, including ...