PetroReconcavo defined the price range in its initial public offering (IPO) between R$ 15.50 to R$ 19.50 per share. Considering the base offer of 70 million shares and the middle range, R$ 17.50, the transaction may raise R$ 1.225 billion.
The offer is totally primary, that is, the funds go to the company’s cash. There is also the possibility of an additional batch of 14 million shares and an additional 10.5 million shares.
Pricing should take place on May 3rd. The shares will be traded on B3’s Novo Mercado under the ticker RECV3.