Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Brasil Pharma Surges as BTG Guarantees Share Sale

April 10 (Bloomberg) -- Brasil Pharma SA surged the most since 2011 as controlling shareholder Grupo BTG Pactual pledged to make up the difference if other investors fail to buy all the stock in a planned 400 million-real ($182 million) sale.

The pharmacy chain’s shares rallied 8 percent to 3.80 reais at the close of trading in Sao Paulo. It was the second-best performance on the BM&FBovespa Small Cap index, which was little changed.

Brasil Pharma said in a regulatory filing yesterday it plans to sell shares for 3.75 reais each to its current shareholders. BTG Pactual agreed to buy all remaining shares if demand for the securities falls short of the offering’s target, according to the filing.

The company plans to sell the stock to “strengthen its cash position,” according to the filing. The proposal will be put to a vote in a shareholder meeting scheduled for April 25. Brasil Pharma is down 44 percent this year, while the small cap index has dropped 5.9 percent.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editors responsible for this story: Brendan Walsh at bwalsh8@bloomberg.net Richard Richtmyer

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.