BTG Pactual starts share sale

BTG Pactual starts share sale

Equity Capital Markets Corporate & Sovereign Strategy Brazil

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.

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