Petrobras Eyes Biggest Share Issue in Corporate History

The biggest share issue in corporate history will be priced on Thursday evening as Brazil’s national oil company Petrobras (PBR) attempts to raise up to $78 billion from existing shareholders and new investors. A large slice of the offer — $44 billion — will go to the Brazilian government, the co.’s controlling shareholder, in exchange for 5 billion barrels of oil in the newly discovered pre-salt oilfields. – FT

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