Petrobras Distribuidora IPO raises $1.5B

摘要

Petrobras has raised $1.5B via the IPO it listed for its retail arm Petrobras Distribuidora. The offering listed a 15% stake in the retail arm, and is part of Petrobras's ongoing divestiture plan to raise funds to pay down its debt. In related news Petrobras is seeking a buyer for its 50% stake in biodiesel producer BSBios. The biodiesel company operates two biodiesel facilities in southern Brazil, with one of the plants producing 288K kL/y (5.0K b/d).