off-the-wire

Brazil's Meliuz raises $32.4 million in share offering to buy bitcoin

Kitco Media
By Reuters
Published:
Updated:
Reuters
Brazil's Meliuz raises $32.4 million in share offering to buy bitcoin teaser image

SAO PAULO, June 13 (Reuters) - Brazilian fintech Meliuz (CASH3.SA), opens new tab raised 180.08 million reais ($32.39 million) in a follow-on share offering aimed at obtaining funds to purchase bitcoin, it said in a securities filing on Friday.

Meliuz said that the offering, which had investment bank BTG Pactual as bookrunner, was priced at 7.06 reais per share, a 5% discount over its Thursday closing price.

Meliuz's move to buy more bitcoin came as the company earlier this year launched a new strategy allowing it to allocate cash reserves in the cryptocurrency, labeling itself "the first bitcoin treasury company" in Brazil.

($1 = 5.5594 reais)

Reporting by Gabriel Araujo; Editing by Chizu Nomiyama

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