Paraná Banco Offers More Details Of Listing

Brazilian bank Paraná Banco has offered more information regarding its forthcoming listing via local Bovespa exchange. Paraná is to join the growing list of mid-sized banks seeking to float their stock on Bovespa. The IPO, via UBS, will comprise a primary offering of 37.8m preferred shares with an expected price range of between BRL14 and BRL18 per share. Trading is expected to begin June 14. The consumer credit bank specialist will join Nossa Caixa and Banco Pine in its plans. The shares will be sold in Brazil and to qualified foreign investors under 144A rules used by the SEC.