Banco Daycoval plans to raise ca $1 billion in IPO

Brazilian lender Banco Daycoval SA is planning to launch an initial public offering in April, in a move that would re-list its shares on the Sao Paulo stock exchange after three years. The offering may raise between 3 billion and 4 billion reais ($956 million). The bank’s Lebanese-born founders, Ibrahim and Sasson Dayan have hired investment banking units of Itau Unibanco Holding SA, Banco BTG Pactual SA, Bank of America and Banco Santander Brasil SA to manage the IPO.

Source: Reuters