Brazil's Banco Pan considers secondary share offering

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By Tatiana Bautzer

SAO PAULO, June 14 (Reuters) - Shareholders in Brazil'sBanco Pan SA are considering a secondary share offering, a source with direct knowledge of the matter said on Friday.

Executives of Banco Pan's major shareholders, state-controlled bank Caixa Economica Federal and Banco BTG Pactual SA have discussed an offering, the source added, who spoke anonymously because the discussions are private discussions.

A potential offering to reduce Caixa's stake in the bank would be a second step after the liquidity of Banco Pan shares rises.

Newspaper Valor Economico first reported the potential offering on Friday, mentioning that it could raise up to 650 million reais ($169 million).

Banco Pan declined to comment on the matter, while Caixa Economica Federal and BTG Pactual did not immediately comment.

($1 = 3.8492 reais)

This article appears in: Banking and Loans , Technology , US Markets , Stocks , IPOs , Retirement

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