BTG Holders Sell Down

Shareholders in BTG Pactual have raised BRL210m ($103m) in a public auction, according to a source familiar with the matter. The 6.5m units, equal to 5.4% of the bank’s free float, priced at BRL32.36 each, above a BRL29.50 minimum and at a 2.7% premium to the previous day’s close. The shares closed at BRL32.65 Friday. The sellers were identified only as holders outside the controlling group. BTG managed the transaction.