February 11, 2020 / 11:27 AM / 7 days ago

Brazil's Daycoval files for IPO registration

SAO PAULO, Feb 11 (Reuters) - Brazilian lender Banco Daycoval filed for an initial public offering, according to a securities filing on Tuesday.

Both the bank and its shareholders will raise money in the offering, Daycoval said.

In late January, Reuters first reported that the bank was planning to re-list its shares in April, marking a return to the stock market three years after going public in a new offering that could raise up to 4 billion reais ($925 million).

At the end of 2016, Daycoval delisted its shares after a drop in the price to about half of the IPO launch value done in 2007.

When Daycoval delisted, the Dayan family paid 9.08 reais per share, a big discount over the 17 reais the stock was priced at in 2007.

The investment banking units of Banco BTG Pactual SA, Itau Unibanco Holding SA, Banco Santander Brasil SA and Bank of America will manage the offering. ($1 = 4.3245 reais) (Reporting by Paula Laier, editing by Louise Heavens)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below