September 18, 2019 / 10:51 AM / a month ago

Brazil's Banrisul shrinks secondary offering

SAO PAULO, Sept 18 (Reuters) - Brazilian state-controlled lender Banco do Estado do Rio Grande do Sul (Banrisul) has reduced the number of common shares offered in a secondary share offering to 71,350,686 from 96,323,426, it said in a securities filing on Wednesday, in a sign that demand may be lower than expected.

Banrisul also decided to postpone the follow-on pricing for today. Previously, the bank had said it would price the shares on Tuesday.

Reporting by Carolina Mandl; editing by Jason Neely

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