January 15, 2021 |
BTG Pactual approved on Thursday the sale of up 27.8 million units comprising one common share and two preferred shares that could earn up to BRL2.5 billion ($481 million) for the Brazilian investment bank.
The bank plans to sell 22.2 million units in the initial offer but could increase this by 25%, or an additional 5.56 million units, according to a securities filing.
Bradesco BBI, Itaú BBA, Morgan Stanley, Santander and BTG Pactual itself will coordinate the offer, the bank said.
Shares in BT
Brazilian investment bank stands to earn around $481 million from sale of common and preferred shares