Daycoval Seeks 1bn Reais

Brazilian Banco Daycoval will join two other mid-sized banks to list on Bovespa this year – Sofisa and Pine – after it said it was looking to raise up to $1bn via its IPO. Goldman Sachs and UBS will coordinate the offering. The bank is hoping for between 14.50 reais and 19.50 reais per share for its 55.88m preferred shares.