June 23, 2020 |
Brazilian private sector bank BTG Pactual said on Monday it is planning a BRL2.5 billion ($475.8 million) share issuance to fund the development of its retail platform launched last year.
BTG will initially offer 28.5 million units comprising 28.5 million common shares and 57 million preferred shares, the bank said in a securities filing.
BTG will coordinate the offering alongside Bradesco BBI, Itaú BBA and Santander, the filing stated.
The closing price of the offer is scheduled for the 29th.
Brazilian bank is planning to raise $475.8 million to continue development of digital retail platform