Advertisement
UK markets open in 4 hours 21 minutes

  • NIKKEI 225

    38,337.78
    +785.62 (+2.09%)
     

  • HANG SENG

    17,054.83
    +225.90 (+1.34%)
     

  • CRUDE OIL

    83.32
    -0.04 (-0.05%)
     

  • GOLD FUTURES

    2,332.70
    -9.40 (-0.40%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • Bitcoin GBP

    53,424.80
    -228.47 (-0.43%)
     

  • CMC Crypto 200

    1,434.34
    +19.58 (+1.38%)
     

  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     

  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Brazil's BNDES raises $5.2 billion selling Petrobras stake: sources

Reuters
·1-min read
The facade of the headquarters of Petroleo Brasileiro S.A. (PETROBRAS) is pictured in Rio de Janeiro

SAO PAULO (Reuters) - Brazil's development bank BNDES sold on Wednesday $5.2 billion in common shares it owned in state-controlled oil company Petroleo Brasileiro SA <PETR4.SA>, two people with knowledge of the matter said.

Petrobras priced the offering at 30 reais per common share, a discount of 1.57% relative to Wednesday's closing price. BNDES sold 22 billion reais in shares, the sources added.

The BNDES stake sale is the largest Petrobras offering in a decade. The investment banking units of Credit Suisse, Bank of America, Banco Bradesco SA, Banco do Brasil SA, Citigroup Inc, Goldman Sachs Group Inc, Morgan Stanley and XP Inc managed the offering.

BNDES has said publicly it will send part of the profits to Brazil's Treasury as dividends. The sale of Petrobras shares is the largest divestiture so far of the 110 billion-real stock portfolio owned by the development bank.

BNDES has yet to divest from the preferred shares it owns in Petrobras.

(Reporting by Tatiana Bautzer and Carolina Mandl; Editing by Sandra Maler)