trending Market Intelligence /marketintelligence/en/news-insights/trending/nt-rezriprjo_fkh-1xzdw2 content esgSubNav
In This List

Brazil's Banco Inter closes IPO

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Brazil's Banco Inter closes IPO

Brazil-based Banco Inter SA closed its initial public offering of preferred shares, raising about 722 million reais in the process.

In aggregate, Banco Inter sold 39,024,392 preferred shares at a price of 18.50 reais apiece, the bank said in a filing.

The offering was composed of a primary distribution of 29,268,294 shares and a secondary distribution of 6,208,426 shares. The bank also offered 872,172 shares as partial exercise of the supplementary lot. These shares amounted to about 672.5 million reais.

Furthermore, 2,675,500 shares were repurchased in stabilization operations.

Banco Bradesco BBI SA acted as lead coordinator for the offering, while Citigroup Global Markets Brasil CCTVM, Banco Morgan Stanley SA and BB-Banco de Investimento SA acted as coordinators.

Bradesco Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Banco do Brasil Securities LLC and Nomura Securities International Inc. acted as international placement agents.

As of June 5, US$1 was equivalent to 3.76 Brazilian reais.