Banco Pan shapes share sale

Banco Pan shapes share sale

Equity Capital Markets Brazil US

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

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