国际英语新闻：Brazilian gov't increases share in oil giant Petrobras

RIO DE JANEIRO, Sept. 24 (Xinhua) -- The Brazilian government will increase its share in state-controlled oil and gas giant Petrobras from 40 to 48 percent, the country's Finance Minister Guido Mantega said Friday.

Earlier in the day, Mantega and President Luiz Inacio Lula da Silva participated in the official opening ceremony of Petrobras' global offering in the Sao Paulo Stock Exchange.

The offering is made both in Sao Paulo and in New York, where Petrobras is also listed.

Part of the shares has already been offered to the current shareholders, including the Brazilian federal government.

According to the company, so far 120 billion reais (70.1 billion U.S. dollars) were collected in the offering, which makes the operation the largest in history.

Common shares are being offered to the public in Brazil at 29.65 reais (17.2 dollars) per share, while preferred shares at 26.30 reais (15.3 dollars).

Mantega considered the global offering a success, especially at a time when the effects of the international financial crisis can still be felt in the world. He added that the extra capital will guarantee the execution of Petrobras' 224 billion-U.S.-dollar investment plan.

President Lula hailed the success of the offering. "It was not in London, it was not in New York. It was in Sao Paulo where we made the largest offering in the history of capitalism," he said.