July 15, 2019 / 12:57 PM / 2 months ago

Brazil's Movida launches $268 mln share offering - filing

SAO PAULO, July 15 (Reuters) - Brazilian rental car company Movida launched a share offering that may raise 1 billion reais ($267.85 million), it said in a securities filing on Saturday.

The company will issue 35.5 million new shares, while its shareholders will sell 13 million shares. Considering overallotments, both the company and its shareholders may sell 16.95 million shares.

The price per share will be set on July 25.

Investment banking units of Banco BTG Pactual SA, Itaú Unibanco Holding SA, JPMorgan Chase & Co , XP Investimentos SA, Banco do Brasil SA, Banco Bradesco SA and Banco Santander Brasil SA will manage the offering.

Shares in Movida are up roughly 90% this year and were trading at 16.47 reais on Friday. ($1 = 3.7334 reais) (Reporting by Carolina Mandl; Editing by Andrea Ricci)

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