September 10, 2019 / 12:08 PM / in a year

Brazil's Banrisul bank announces secondary share offering

SAO PAULO, Sept 10 (Reuters) - Brazil state-controlled Banco do Estado do Rio Grande do Sul announced on Tuesday a secondary share offering of 96 million common shares, according to a securities filing.

Banrisul, as the bank is known, said it will price the share offering on September 17. The bank had said in August that its controlling shareholder, the state of Rio Grande do Sul, was planning to sell a stake in the company but retain its controlling stake.

Reporting by Paul Arend Laier Editing by Peter Graff

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