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Petrobras (PBR) announces plans for a $64.5B stock sale, one of the biggest ever, to fund...

Petrobras (PBR) announces plans for a $64.5B stock sale, one of the biggest ever, to fund offshore exploration and cover debts. Brazil's state-controlled oil company will sell 1.59B new preferred shares and 2.17B new voting shares, and may sell an additional 564M shares in a supplementary offering.
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Comments (1)
  • Stone Fox Capital
    , contributor
    Comments (7009) | Send Message
     
    seems absurd. What was the benefit of finding all those new oil fields if they were going to dilute the crap out of shareholders.
    3 Sep 2010, 09:20 AM Reply Like
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