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US-based investment group Fidelity has taken 6.7% of the preferred shares of midsize Brazilian bank Banco Pine, according to a securities filing.
Fidelity said it bought 2.68mn preferred shares, which were up 3.3% to 13.60 reais in trading Thursday.
Earlier this year, Pine reached the 25%-minimum free float requirement set by stock exchange Bovespa and hired XP Investimentos as its market maker for its preferred shares.
Banco Pine plans to release its 4Q10 results on March 2.