(Bloomberg) -- Banco do Brasil SA, Latin America’s biggest lender by assets, and a government-managed fund raised 5.8 billion reais ($1.4 billion) by selling shares of the state-owned bank, another step in Brazil’s effort to shrink the size of the state.Shares of the company rose to a three-week high after the deal, which priced 132.5 million shares at 44.05 reais apiece, according to a regulatory filing. A little over half of the shares were sold by a Brazilian workers’ investment fund known as FI-FGTS, managed by another state-controlled bank, Caixa Economica Federal.