Banco Pan is set to sell up to R$1.35 billion of shares this week – and it appears to have timed the transaction to perfection.
The deal is technically a follow-on but, given the structural changes to the company and the illiquidity of the float, bankers are calling it a “re-IPO”. The bank – mainly owned by BTG Pactual and Caixa – is raising capital to fund a digital expansion that is driving its repositioning as a full service bank to lower-income segments in Brazil.
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