October 18, 2019 / 12:13 PM / a month ago

Banco do Brasil shares up over 2% after raising $1.39 billion

FILE PHOTO: The Banco do Brasil logo is seen outside a bank office in Sao Paulo, Brazil August 9, 2018. REUTERS/Paulo Whitaker/File photo

SAO PAULO (Reuters) - Shares of Brazilian state-controlled lender Banco do Brasil SA (BBAS3.SA) were up more than 2% on Friday after the bank said it had raised 5.836 billion reais ($1.39 billion) in a secondary share offering.

Earlier on Friday, Banco do Brasil said in a securities filing that it had priced its secondary offering of 132.5 million shares at 44.05 reais, confirming a Reuters’ report late Thursday.

Banco do Brasil's common shares were trading up 2.3% at 45.93 reais around noon (1500 GMT), posting the second best performance in the Sao Paulo stock exchange main index .BVSP, which was up 0.07%.

Reporting by Gabriela Mello; Editing by Mark Potter and Tom Brown

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