Brazil Pharma Plans to Raise Up to 519.8 Million Reais in IPO

Brazil Pharma SA, the pharmacy unit of Banco BTG Pactual SA, is seeking to raise as much as 519.8 million reais ($328 million) in an initial public offering.

Brazil Pharma plans to sell as many as 27 million shares, including possible supplementary offerings, according to a prospectus published today in Sao Paulo-based newspaper Valor Economico. The stock may be priced at 16.25 reais to 19.25 reais, Brazil Pharma said.

BTG Pactual is coordinating the offering with Morgan Stanley and Banco Bradesco BBI SA. The stock is likely to be priced on June 22 and will start trading June 27.

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