Brazil's Pague Menos prepares $78 million share offering, reports Valor

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Brazilian drug store chain Pague Menos BMFBOVESPA:PGMN3 is preparing a share offering, newspaper Valor Economico reported on Thursday, citing sources familiar with the matter.The deal is expected to be both primary and secondary and amount to some 400 million reais ($77.9 million), it said. Valor added lender Banco Mercantil BMFBOVESPA:BMEB3 is also preparing a primary and secondary share offering, which could reach 500 million reais. ($1 = 5.1374 reais)

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