Banco BV is looking to generate 5 billion Brazilian reais from its planned initial public offering, O Estado de S.Paulo reported, citing unnamed sources.

The bank, which was previously known as Banco Votorantim, explored a listing last year but postponed the move to 2020, allowing it more time to meet IPO requirements on the B3 stock exchange.

The IPO will involve a primary and secondary sale of shares, although details such as the size of the offering have not been finalized yet, according to the report. The Ermírio de Moraes family holds 50.01% of Banco BV's voting capital, while state-run Banco do Brasil SA owns the remaining 49.99% stake

Banco BV is expected to file a prospectus for the offering this week. Banco do Brasil, JPMorgan, Goldman Sachs, Morgan Stanley and Itaú BBA will reportedly manage the sale.

The company recently acquired online personal loan platform Just and has not ruled out the creation of a digital bank, Estado reported.

As of Jan. 6, US$1 was equivalent to 4.05 Brazilian reais.