Banco Bradesco Stock- BTG Pactual raises 2.65 billion reais in follow-on offering
SAO PAULO (Reuters) – Brazilian investment bank Banco BTG Pactual SA BPAC11.SA set the price per unit in a share offering at 74.40 reais, three people with knowledge of the matter said.
The bank raised 2.65 billion reais to invest in its newly-launched retail banking unit, which mainly competes with digital brokers such as XP Inc XP.O.
BTG’s units closed Monday at 76 reais, which implies a 2.1% discount in the follow-on offering. Each unit comprises one common share and two preferred shares.
Reporting by Tatiana Bautzer and Carolina Mandl; Editing by Chris Reese and Tom Brown