IPO of PetroRecôncavo.

(epbr) The Company raised R$ 1.1 billion on the stock exchange with a share price of R$ 14.75. The value was defined below the initial indicative price range, from R$ 15.50 to R$ 19.50. Negotiations at B3 begin on Wednesday (5).

– The objective is the acquisition of upstream mature assets. About 66% of the funds will be used to pay for deals already signed with Petrobras – the company bought the Riacho da Forquilha, Remanso and Miranga clusters from Petrobras.

– Another 24% will be used in new acquisitions and the remaining amounts will strengthen the cash.

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