Thursday, April 26, 2012

Reuters: Private Equity: BTG Pactual rises in first day of trading

Reuters: Private Equity
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BTG Pactual rises in first day of trading
Apr 26th 2012, 13:24

SAO PAULO, April 26 | Thu Apr 26, 2012 9:24am EDT

SAO PAULO, April 26 (Reuters) - Units in Brazilian investment bank BTG Pactual rose on Thursday in their first day of trading after an initial public offering, reflecting investor confidence in the firm and its billionaire founder, André Esteves.

Units rose to 31.81 reais, up from the IPO price of 31.25 reais per unit.

The IPO is said to value BTG Pactual at about $14.4 billion, a source with knowledge of the situation told Reuters, making it Brazil's 16th-biggest listed company by market capitalization.

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