CORRECTED - Brazil PDG Realty prices offer at 14 reais/share
(Corrects headline to say PDG priced share offer, not IPO)
SAO PAULO, Oct 1 (Reuters) - Brazilian real estate developer PDG Realty (PDGR3.SA) priced shares at 14 reais in its primary offering of 56 million shares, according to data from the CVM market regulatory agency on Thursday.
The company's controlling shareholder, UBS Pactual Desenvolvimento e Gestao I, did not offer supplementary shares in a secondary offering.
Proceeds from the offer are estimated at 784 million reais ($438 million).
PDG Realty hired UBS Pactual as lead underwriter of the offering. Itau BBA, the investment banking arm of Brazil's largest private-sector bank, Goldman Sachs and Merrill Lynch will co-manage the sale.
Since June, shopping mall operator BR Malls (BRML3.SA) and builder of low-cost homes MRV Engenharia (MRVE3.SA) have sold about 1.6 billion reais of stock and several other companies have lined up to sell shares in the coming weeks.
Direcional Engenharia and Brazilian Finance & Real Estate have filed for initial public offerings, while companies including Rossi Residencial (RSID3.SA) and shopping mall operator Multiplan (MULT3.SA) also announced plans for stock sales.
Brazilian real estate companies were among the most active in stock offerings in the boom years 2006-2007, but later became among the worst performers in the local stock market because of a glut in share sales. ($1=1.787 reais) (Reporting by Aluisio Alves; writing by Reese Ewing)
