Banco Do Brasil Rise On Sale News

Shares of state-owed Banco do Brasil, Latin America’s largest bank in terms of assets, rose dramatically yesterday, Thursday, on news of a possible sale. The government is thought to be ready to launch a secondary offering of shares imminently as a further step towards listing the bank on Bovespa’s Novo Mercado. The Novo Mercado has higher corporate governance standards than the main market. The bank’s shares closed the day up 5.06%, trading at 59.99 reais.