Banco BTG Pactual SA has chosen Banco Bradesco SA (BBDC4), Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM) as advisors for its initial public offering in Brazil, according to a regulatory filing.

The bank said it plans to use the proceeds to improve “funding structure” and for future expansions.

To contact the reporter on this story: Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net

To contact the editor responsible for this story: Leonardo Lara at llara1@bloomberg.net