Caixa subscribes to Banco Pan share sale

Caixa subscribes to Banco Pan share sale

Equity Brazil

Brazil's Caixa Econômica Federal has decided to buy half of the shares available in a planned capital increase by the local lender Banco Pan. The São Paulo-based mid-sized bank announced in August 2017 that it planned to raise BRL400m ($104m) from the sale of 213m shares for BRL1.88 each. At the time, BTG Pactual, Banco Pan's controlling shareholder, agreed to buy all the shares. BTG Pactual owns 50.6% of Banco Pan, while Caixa owns 32.8% through its equity investments division Caixa Participaçõ

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial