Sergipe Administradora de Cartoes e Servicos LTDA. announced a private placement of 178,137 common shares at a price of BRL 123.50 per share for gross proceeds of BRL 21,999,919.5 on August 31, 2018. The transaction involved participation from existing investor Banco do Estado de Sergipe S.A. (BOVESPA:BGIP4). The investor now holds 49.75% stake in the company.