November 27, 2018 |
Investors are working to make sense of the announcement from XP Investimentos that it could conduct an IPO next year on the Nasdaq stock exchange in New York.
A fund manager in São Paulo said the Brazilian financial services firm is likely looking to raise more funding after the sale last year of 49.9% to Itaú Unibanco did not bring in as much money as expected.
"XP has been growing very fast, and I see their announcement [to list on Nasdaq] as Plan B to get cash because Plan A [the Itaú sale]
Brazilian financial services firm says it is in the early stages of planning an IPO on the Nasdaq in New York