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RIO DE JANEIRO, Jan 29 (Reuters) - Brasil Pharma SA , Brazil's fourth-largest drugstore chain, said on Friday it will issue 400 million reais ($100 million) of new shares valued at 3.78 reais each.
The decision was taken after the firm failed to attract enough demand from current investors to raise the money, BR Pharma said in a securities filing.
Last week BR Pharma said it was looking to raise the money from investors as controlling shareholder Grupo BTG Pactual SA considers exiting the company.
$1 = 3.998 reais Reporting by Stephen Eisenhammer; Editing by Chizu Nomiyama