(This March 12 story has been refiled to identify Temasek as Singapore’s state investor, not sovereign wealth fund)
SAO PAULO (Reuters) - Shareholders in Brazilian restaurant chain BK Brasil will sell up to 33.4 million shares in an offering, the company, which owns the Burger King brand in the country, said in a filing on Tuesday.
Considering the closing price on Tuesday, the offering may reach up to 750 million reais ($196.66 million), representing a stake of 14.8 percent in the company. It does not includes over-allotments that may be sold.
Pricing will be set on March 21, and the offer will be restricted to professional investors.
Only shareholders such as asset managers Vinci Partners and Capital Group and Singapore’s state investor Temasek Holdings Ltd are selling part of their stakes, and the company itself will not raise cash.
The investment banking units of Itau Unibanco Holding SA, Bank of America Corp and Banco BTG Pactual SA will manage the offering.
Reporting by Tatiana Bautzer; Editing by James Dalgleish