September 3, 2019 / 1:42 PM / 18 days ago

Brazil's Caixa insurance unit to IPO this year despite regulatory delays -CEO

SAO PAULO, Sept 3 (Reuters) - Brazilian state-owned bank Caixa Economica Federal expects to hold an initial public offering for its insurance subsidiary this year, although regulatory hurdles are delaying planned share sales in the bank’s units overall, its chief executive said on Tuesday.

In March, the company said that it was likely to hold an IPO for its Caixa Seguridade unit in September, as part of a plan to raise 15 billion reais ($3.6 billion) that also included offerings for other units such as its lottery and card operator subsidiaries. ($1 = 4.16 reais) (Reporting by Aluisio Alvez Writing by Jake Spring Editing by Chizu Nomiyama)

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