Petrobras may raise up to $2.3bn with BR Distribuidora IPO

Petrobras, as the company is known, is looking to sell as many as 393.2 million shares in its BR Distribuidora SA unit, including supplementary and additional allotments, at a suggested price of 15 reais to 19 reais per share. That would value BR Distribuidora at around 22 billion reais at the top-end of the price range.