Petrobras, Novonor to sell US$1.5bil Braskem stake

State-owned oil producer Petroleo Brasileiro SA (Petrobras) and Novonor, the industrial conglomerate previously known as Odebrecht, filed for a secondary offering to sell as many as 154,886,547 preferred Braskem shares.

BRASILIA: The controlling shareholders of Braskem SA are seeking to raise about US$1.5bil (RM6.3bil) by selling shares in the petrochemical firm in what is expected to be one of Brazil’s largest equity offerings this year.

State-owned oil producer Petroleo Brasileiro SA (Petrobras) and Novonor, the industrial conglomerate previously known as Odebrecht, filed for a secondary offering to sell as many as 154,886,547 preferred Braskem shares.