Banrisul banks on credit card IPO

Banrisul banks on credit card IPO

Capital Markets Corporate & Sovereign Strategy Equity IPO Brazil Rule 400

Banrisul said it has hired BTG Pactual to help coordinate the IPO of its credit card business on the B3 stock exchange in São Paulo. The Rio Grande do Sul state bank has also hired Bank of America Merrill Lynch, Credit Suisse, Morgan Stanley and Brasil Plural to work on the share sale, which could be worth as much as BRL3bn ($802m), according to press reports. The IPO is expected to price in July, local press reported.  Banrisul Cartões will sell new preferred shares in the IPO, while the Rio Gr

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