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Deals

Brazil's BV bank resumes IPO process

SAO PAULO (Reuters) - BV, formerly known as Banco Votorantim, said on Thursday that it has relaunched its plan to list on the São Paulo stock exchange through an initial offer of stock after halting the process in March due to the coronavirus pandemic.

The bank controlled by the Votorantim Group and Banco do Brasil BBAS3.SA announced in a statement that it has asked Brazil's securities regulator CVM to register as a publicly-held company and make an offering of primary and secondary stock.

The coordinators of the operation will be the same as those announced in March: Goldman Sachs, JPMorgan, BB Investimentos, Itaú BBA, Morgan Stanley, Bank of America and UBS.

The original plan initially involved raising about 5 billion reais ($898 million), divided equally between BB and Grupo Votorantim.

Reporting by Aluísio Alves; Editing by Shri Navaratnam

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