SAO PAULO (Reuters) - Brazilian investment bank Banco BTG Pactual SA (BPAC11.SA) set the price per unit in a share offering at 74.40 reais, three people with knowledge of the matter said.
The bank raised 2.65 billion reais to invest in its newly-launched retail banking unit, which mainly competes with digital brokers such as XP Inc (XP.O).
BTG’s units closed Monday at 76 reais, which implies a 2.1% discount in the follow-on offering. Each unit comprises one common share and two preferred shares.
BTG, Bradesco BBI SA, Itau BBA SA and Banco Santander Brasil SA managed the offering.
Reporting by Tatiana Bautzer and Carolina Mandl; Editing by Chris Reese and Tom Brown