August 7, 2019
Brazil's Banco Pan said it could sell shares to increase its free float on the B3 stock exchange in São Paulo.
The bank trades 16.6% of its shares on the B3, while BTG Pactual and Caixa Econômica Federal each own 41.7%.
Banco Pan did not say how much money it could raise from the possible share sale, but the local business daily Valor Econômico reported last week that Caixa could reduce its stake in the midsize lender through a BRL650m ($164m) deal.
The federal savings bank has reduced its stake
Brazilian lender says it wants to increase its free float on the local stock exchange