Santander Brazil IPO Flops

Santander Brazil IPO Flops

Equity

Santander Brasil’s stock traded down 3.7% in its inaugural market session, tarnishing this year’s biggest IPO and leaving some participants in the offering with a bad taste in their mouth. Yesterday’s performance does not mean the IPO will remain underwater in the coming sessions, neither is it entirely surprising, given that it traded roughly in line with other Brazilian banks. Bradesco fell 3.7% and Itau Unibanco lost 3.2% Wednesday, while the Bovespa was flat on the day. But investors partici

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