- Oops!Something went wrong.Please try again later.
SAO PAULO, May 29 (Reuters) - Banco BTG Pactual SA , Latin America's largest independent investment bank, is planning a share offering to sell up to 24.4 million units, the bank said in a securities filing late on Friday.
Each unit is comprised of one common and two preferred shares. The bank expects to price the offering on June 8. Considering Friday's unit closing price, the bank may raise around 3 billion reais ($574.2 million).
BTG said it will sell only new shares and current shareholders are not expected to sell part of their stakes. Proceeds will be used to accelerate growth of its digital retail initiatives, BTG added. ($1 = 5.2244 reais) (Reporting by Paula Laier in Sao Paulo Writing by Tatiana Bautzer Editing by Matthew Lewis)