July 4, 2019 / 6:28 PM / a year ago

UPDATE 1-Shares in Brazil's Banco Inter soar as bank prepares share offering

(Adds shares reaction, common shares listing)

By Carolina Mandl

SAO PAULO, July 4 (Reuters) - Brazilian digital lender Banco Inter SA has hired the investment banking units of JPMorgan Chase & Co, Banco BTG Pactual, Banco Bradesco SA, Goldman Sachs and Banco Santander Brasil to manage a 1 billion-reais ($263 million) share offering, one source with knowledge of the matter said.

Shares in Banco Inter surged 7.72%, trading at 11.59 reais, as the bank intends to use the proceeds to fuel growth, starting to offer services beyond banking in its app through partnerships.

Reuters reported in June that Banco Inter was seeking a capital increase of up to 1 billion reais.

The bank announced on Thursday that its board had approved a program to list units comprised of one common share and two preferred shares. Currently, only preferred shares in Banco Inter are listed.

The shares will be priced this month, the source added. Sao Paulo-listed shares in the firm are up 81% this year and the bank's market capitalization is 3.3 billion reais.

Banco Inter did not immediately respond to a request for comment. Brazilian newspaper O Estado de S. Paulo reported the hiring of investment banks earlier on Thursday. ($1 = 3.80 reais) (Reporting by Carolina Mandl Editing by Chizu Nomiyama and Jonathan Oatis)

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