September 10, 2019
Brazil's Banco Pan could raise as much as BRL1.35bn ($330m) from an upcoming share sale on the B3 stock market in São Paulo, based on Monday's closing price.
The midsized bank said in a securities filing on Monday that it intends to offer at least 115m preferred shares, but it could increase the size of the deal by 20%, or 23m shares.
According to the filing, Banco Pan will sell up to 69m shares, while the state-owned lender Caixa Econômica Federal could offload another 69m shares in the offerin
Brazilian lender could raise $330m from a follow-on offering on the local stock exchange