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Capital Markets

Petrobras: The deal in numbers

With the issuance of 2,369,106,798 common shares (voting) and 1,901,313,392 preferred shares, Petrobras undertook the largest capital increase operation in history. The number of shares includes the base offerings (with 2.2 billion ON and 1.6 billion PN), the additional lot (119.8 million ON and 202.6 million PN), and the over-allotment (75.2 million ON and 112.8 million PN). The amount raised topped out at R$120.2 billion ($69.9 billion). The price per share was R$29.65 for the common shares traded in Brazil, and R$26.30 for the preferred shares. On the New York Stock Exchange, the prices were, respectively, $34.49 and $30.59.

The priority offering (for those who were already Petrobras shareholders) reached $49.4 billion. The institutional one reached $18.1 billion, of which $9.5 billion was raised in Brazil and $8.6 billion abroad. The retail offering topped at $2.4 billion, $1 billion of which was raised in Brazil and $1.4 billion on the international market.

In the retail offering, 8,900 investors purchased ON shares, while 46,400 opted for the PN ones in the country. Investment funds, which allowed minimum contributions of R$200, attracted a total of $52 million, with 18,000 shareholders. Petrobras employees also participated: 14,900 employees invested a total of $392.1

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