Meirelles Says Petrobras Offering Boosted Dollar Flows
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Petroleo Brasileiro SA’s share offering attracted “considerable” dollar inflows that are unlikely to be seen again, central bank President Henrique Meirelles said.
The state-controlled oil company raised as much as 120.4 billion reais ($70 billion) from the Brazilian government and other investors in the world’s largest share sale as it seeks cash to develop offshore fields. Petrobras, based in Rio de Janeiro, sold 2.4 billion common shares for 29.65 reais each and priced 1.87 billion preferred stock at 26.30 reais apiece, according to a regulatory filing from the company yesterday.