December 4, 2020 |
Brazilian bank Itaú Unibanco said Thursday that it could earn up to $1.05 billion from the sale of part of its stake in the local brokerage firm XP Inc through a follow-on equity offering on the Nasdaq stock exchange in New York.
Itaú said its subsidiary ITB Holding Brasil Participações sold $935 million worth of shares, representing 4.4% of XP's capital stock, on Wednesday and added that it could sell a total of 5% if it exercises the greenshoe option.
The Brazilian bank now holds 41.1% of XP,
Brazilian bank could earn up to $1.05 bln from the sale of 5% of the brokerage firm on the Nasdaq