June 6, 2019 |
Brazil's BTG Pactual said it intends to sell at least 48m shares in a follow-on equity offering that could raise roughly BRL2.2bn ($569m) for the investment bank.
BTG Pactual will coordinate the share sale itself with Bradesco BBI as the co-manager. The other banks on the deal are Morgan Stanley, UBS and BB Investimentos, BTG Pactual said in a securities filing.
BTG Pactual added that it will price the shares on June 11. The bank's shares dropped 3.34% after the announcement to close at BRL45.
Brazilian bank looks to raise $570m from a follow-on offering in the local stock market