June 5, 2019 / 11:10 AM / 3 months ago

Brazil bank BTG Pactual plans to sell 48 million shares

SAO PAULO, June 5 (Reuters) - Brazil’s largest investment bank BTG Pactual SA will sell 48 million shares as part of a secondary share offering, the company said in a securities filing on Wednesday.

The announcement follows a decision by the bank’s holding company to sell roughly 2.3 billion reais ($596.26 million)worth of shares to increase its free float.

The secondary offering will be advised by BTG Pactual US Capital LLC, Morgan Stanley, Bradesco Securities, UBS Securities LLC and Banco do Brasil Securities LLC.

BTG said it will price its share on June 11. ($1 = 3.8574 reais) (Reporting by Carolina Mandl)

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