Brazilian drug distributor Dimed approves share offering

SAO PAULO (Reuters) – Brazilian drug distributor Dimed SA Distribuidora (PNVL4.SA) has approved the sale of up to 38 million shares, the company said in a securities filing on Friday.

According to the filing, the company will sell 16 million new shares and shareholders such as pension fund Petros, which manages retirement accounts for employees of oil company Petrobras, and private equity fund Kinea will sell another 16 million shares.

Depending on demand, the issue size may rise by 6 million shares, or 19%. Investment banking units of Banco Bradesco SA, Itau Unibanco Holding SA and Banco BTG Pactual will manage the offering.

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