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2 months Ago, September 4, 2021

Petrobas eyes top share sale

2 months Ago, September 4, 2021

Petrobas eyes top share sale

Written by : , Category : vrjehchm , Date : September 4, 2021 , No Comments on Petrobas eyes top share sale

first_img Tags: NULL whatsapp Petrobas eyes top share sale whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KCS-content center_img Share PETROBRAS, the Brazilian state oil company, has filed one of the largest rights issues to date as the firm plans to sell up to $64.5bn (£41.7bn) of new stock.The global stock offer could be expanded to as much as $74.7bn if underwriters exercise a “greenshoe” option to sell an additional 564m shares to meet extraordinary demand as the company raises funds for the world’s biggest oil exploration program.Petrobras filed to sell 1.59bn new preferred shares and 2.17bn new common shares. At Thursday’s closing prices, it would raise 67.8bn reais (£25.3bn) with the common shares sale and 43.8bn from the preferred shares.Included in the offer is a $43bn state-backed swap of oil for shares in which Petrobras will trade new shares for rights to produce 5bn barrels of offshore oil.The plan has become the financial cornerstone of the company’s $224bn, five-year investment plan meant to turn Brazil into a major oil exporter by tapping crude buried deep under the ocean floor in a region known as the subsalt.But, the company faces skepticism from some investors who have questioned the price of $8.51 per barrel for the reserves to be used in the oil-for-shares swap, considerably higher than the $5 to $6 per barrel that analysts said was fair.Petrobras expects to begin bookbuilding on Friday and price the share sale on 23 September.It currently ranks fifth in oil and gas production among the world’s publicly listed oil companies, according to its own figures, with output of 2.53m barrels of oil equivalent, an amount nearly equal to that of US-based Chevron.The Petrobras move tops the record rights issue launched by Prudential when the insurer attempted to raise £14.5bn to fund its takeover of AIA. Show Comments ▼ Sunday 5 September 2010 10:11 pmlast_img

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