STXNEWS LATAM-Banco do Brasil to submit unit IPO plan to shareholders

Banco do Brasil SA said in a securities filing on
Wednesday that its board of directors will submit to
shareholders approval a plan to list its insurance and annuity
unit. Brazil's largest bank by assets said late last year that
an initial public offering of BB Seguridade, as the unit is
known, could allow it unlock value from a fast-growing business
and propel growth from health and pension plans to retirement
funds and reinsurance.

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