Brazilian investment bank BR Partners raises $80 mln in IPO
SAO PAULO, June 18 (Reuters) - Brazilian investment bank BR Partners BRB11.SA raised 400 million reais ($80 million) in an initial public offering priced on Thursday, according to a securities filing.
The bank priced its shares at 16 reais each, at the lower part of its price range. They will start trading on the Sao Paulo stock exchange on Monday.
The bank plans to use the proceeds to expand its loan, capital markets and trading businesses, and its partners are also planning to sell a stake in it.
BTG Pactual, Itau BBA and XP managed the offering.
($1 = 5.0070 reais)
Reporting by Carolina Mandl; editing by David Evans
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