| Headline: Petrobrás kicks off with Pele Source: Euromoney Date: September 2000 Author: Kay Binnie more on Brazil more on Latin America more on Equity more on Energy
Brazilian soccer legend Pele turned up at the New York Stock Exchange on August 10 to close the First day’s trading of Petrobrás, Brazil’s leading oil producer and its largest company. The year-long surge in oil prices and the busiest week for new listings since 1983 helped provide an auspicious debut for the listing and secondary offering of Petrobrás’ American depositary shares. The Brazilian government, sold 28.63% of Petrobrás’ common shares for $4.34 billion. Bernardo Parnes head of Merrill Lynch Brazil, global coordinator of the deal, hailed it as the largest offering seen in Latin America. Richard Rainer of Merrill Lynch said the tranche sold in Brazil was a huge success. After leaving the NYSE, Pele visited Merrill Lynch’s equity trading Floor where he was swamped by fans. Staff chanted “Pele! Pele!”, waved Brazilian soccer shirts and held soccer balls for autographs as they jostled to get closer to the greatest footballer ever. | |||||||||||||||||||||||||||||||||||||||||