September 17, 2019
Japan's SoftBank Group has increased its stake in Brazil's Banco Inter to 14.9% from 8.1% and reached an agreement to appoint a member of the board of the online lender, according to a securities filing.
SoftBank now owns 35m units in the Belo Horizonte-based bank, with each unit equal to one common share and two preferred shares, Banco Inter said in the filing.
In late July, Banco Inter raised BRL1.25bn ($305m) from the sale of 31.2m units for BRL39.99 each, or BRL13.33 per share, led by Brad
Japanese investor acquires the right to appoint a board member to the Brazilian online lender