January 21, 2020 / 12:18 PM / a month ago

Brazil IT co Positivo to raise $120 mln in share issue

SAO PAULO, Jan 21 (Reuters) - Brazil information technology company Positivo Tecnologia will issue up to 54 million new shares, the company said on Tuesday.

The transaction could raise up to 521.1 million reais ($123.85 million) considering the company’s closing share price on Monday.

The new shares will be priced on Jan. 30. Initially, the company will offer 40 million new shares, which could rise up to 54 million, depending on demand.

The investment banking units of Banco BTG Pactual SA, Banco Bradesco SA and XP Inc will manage the offering. ($1 = 4.2076 reais) (Reporting by Paula Arend Laier, editing by Louise Heavens)

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