(Recasts with Reuters sourcing)
By Tatiana Bautzer
SAO PAULO, June 14 (Reuters) - Shareholders in Brazil’s Banco Pan SA are considering a secondary share offering, a source with direct knowledge of the matter said on Friday.
Executives of Banco Pan’s major shareholders, state-controlled bank Caixa Economica Federal and Banco BTG Pactual SA have discussed an offering, the source added, who spoke anonymously because the discussions are private discussions.
The focus of the offering would be issuing new shares to raise capital and increase liquidity of the shares in the stock exchange, but no decision has yet been made, the source said.
A potential offering to reduce Caixa’s stake in the bank would be a second step after the liquidity of Banco Pan shares rises.
Newspaper Valor Economico first reported the potential offering on Friday, mentioning that it could raise up to 650 million reais ($169 million).
Banco Pan declined to comment on the matter, while Caixa Economica Federal and BTG Pactual did not immediately comment. ($1 = 3.8492 reais) (Reporting by Tatiana Bautzer Editing by Chizu Nomiyama)