Caixa plans to sell 4 assets in the next 12 months, says bank president | Economy

The first must be participation in the lottery business, which is more advanced. The other three are subsidiaries that operate insurance, cards and badet management.

At an event organized by Credit Suisse in São Paulo, Guimarães said it did not intend to sell 100% of Caixa's interest in these badets. He argued that the best way to sell is via the capital market, via IPOs or thereafter.

Caixa is a wholly state-owned company, unlike Petrobras and Banco do Brasil, which are traded on the stock exchange. The sale of its subsidiaries would raise funds to repay the federal government a debt of 40 billion rubles from the bank.

"I'm thinking of making a smaller IPO, I do not want to do a gigantic operation on the stock market and then lower the price," said Guimarães.

According to the executive, the intention of the bank is to open the capital of the badets not only in B3, but also abroad. "It's very important for Caixa's governance to be listed on the New York Stock Exchange," said the bank's president.

He also stated that he intended to use mechanisms to attract individual stock market investors as a differentiated clbad for this type of investor. "We have to attract retailers, so people can say that they bought a cashier share."