Brazil Pharma SA, the pharmacy chain spun off by Banco BTG Pactual SA last year, and its shareholders are raising as much as 481 million reais ($233 million) in a share offering.
The stock was priced at 9.25 reais each, according to the prospectus published today in Valor Economico newspaper. The Sao Paulo-based company is selling 45 million new shares, while its stockholders are offering 7 million of existing shares. The amount doesn’t include overallotment.
The offering comes one year after the company’s debut in the Sao Paulo stock exchange. The stock has risen 16 percent since then, while the benchmark Bovespa index fell 9.3 percent. Brazil Pharma fell 0.5 percent yesterday and closed at 9.50 reais in Sao Paulo.