July 11, 2019 / 1:49 PM / 2 months ago

Brazil's Inter confirms hiring banks for follow-on offering - filing

SAO PAULO, July 11 (Reuters) - Brazil’s Banco Inter SA has hired the investment banking units of Banco Bradesco SA, Goldman Sachs & Co, Banco BTG Pactual, JPMorgan Chase & Co, Banco Santander Brasil SA and Caixa Economica Federal to manage a potential share offering that may reach up to 1 billion reais ($267 million), it said in a securities filing late on Wednesday.

Inter said it intends to sell units that combine one common and two preferred Inter shares but has not yet decided on the timing of the offering.

After opening 6% down, shares in Banco Inter recouped losses and were last up 2.14% at 14.29 reais. Reuters reported hiring of the banks earlier this month.

On Wednesday, Inter also released operational data, saying it has reached 2.5 million checking account holders and its loan portfolio has grown 43% over a year earlier. ($1 = 3.7494 reais) (Reporting by Paula Laier; Writing by Tatiana Bautzer Editing by Susan Thomas)

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