Material Fact - IPO IRB Brasil-RE | Bookbuilding closing and pricing
Pursuant to the Paragraph 4 of the Article 157 of Federal Law Nr. 6,404, and according to CVM (Brazilian Securities and Exchange Commission) Rule Nr. 358, and in addition to the Material Fact dated as of May 29th
, 2017 and to the Information to the Market released on May 19th
and on July 7th
, 2017, BB Seguridade Participações S.A. (“BB Seguridade”) hereby informs the closing of the bookbuilding process of IRB Brasil Resseguros S.A. Secondary Public Offering of Shares (“Offering”), which defined the price per share at R$27.24.
In line with BB Seguridade's Board of Directors decision regarding to the cap of shares to be sold, the Company’s wholly owned subsidiary named BB Seguros Participações S.A. (“BB Seguros”), which owns the direct investment in IRB Brasil Seguros S.A. (“IRB Brasil-RE”), will sell 14.040.000 shares within the Base Offering, arising an impact in BB Seguros’ results of R$154.2 million net of taxes, not accounting the Offering distribution costs. After the Offering, BB Seguros’ stake in IRB Brasil-RE will be of 15.93%.
In the case of full Green Shoe execution, which deadline is August 28th
, 2017, it will be added R$23.8 million in the net impact for BB Seguros and the stake will be reduced to 15.23%.
BB Seguros will remain in the controlling shareholder group of IRB Brasil-RE, pursuant to the shareholder agreement of the company.
Further material information will promptly released to the market.
Brasilia, July 28th
Werner Romera Süffert