July 17, 2020 / 10:33 AM / 21 days ago

Brazil's Caixa Seguridade resumes IPO plans

SAO PAULO (Reuters) - Caixa Seguridade SA will resume its plans for an initial public offering, the Brazilian insurer said in a filing late on Thursday.

The IPO was suspended in March due to the market turmoil caused by the coronavirus pandemic.

Controlling shareholder state bank Caixa Economica Federal was planning to raise more than 10 billion reais ($1.88 billion) in the offering by partially selling its stake.

Caixa Seguridade has not disclosed a date or size for the offering.

Reporting by Carolina Mandl; editing by Jason Neely

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