Brazil's Itau raises $956 million with XP share sale [Reuters]
Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares) (ITUB)
Last itau unibanco banco holding sa american depositary shares (each repstg 500 preferred shares) earnings: 2/11 04:01 pm
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Source: Reuters
By Reuters Staff 2 Min Read SAO PAULO, Dec 3 (Reuters) - Itau Unibanco Holding SA has raised at least $956.4 million by selling a 4.4% stake in brokerage XP Inc in a share offering, a securities filing late on Wednesday said. Itau paid 6.3 billion reais ($1.21 billion) for a 49.9% stake in XP in 2019, showing that this has been a profitable deal for Brazil’s biggest bank. XP’s shares were priced at $39 in the share offering, down 3.5% from its closing price on Wednesday. Itau’s decision to divest its 46% stake in XP comes after its plans take control of the major fintech group in 2017 were blocked for antitrust reasons two years later. After the share offering, Itau’s stake in XP will drop to between 41.1% to 40.5%, depending on the sale of overallotments, the lender said in a filing on Thursday. Excluding fees, Itau said it raised $935 million. Itau said last month it would spin off a 41% stake in XP into a separate company, which will be directly owned by the bank’s shareholders. T
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News
- ITAÚ UNIBANCO 1Q24 ResultsPR Newswire
- Scotiabank Plans to Enter Brazil Local Debt Markets, Boost Team [Yahoo! Finance]Yahoo! Finance
- Scotiabank Plans to Enter Brazil Local Debt Markets, Boost Team [BNN Bloomberg (Canada)]BNN Bloomberg
- Itau Unibanco (ITUB) Thrives on Buyouts Amid High Expenses [Yahoo! Finance]Yahoo! Finance
- Are You Looking for a High-Growth Dividend Stock? [Yahoo! Finance]Yahoo! Finance
ITUB
Earnings
- 8/8/23 - Beat
ITUB
Sec Filings
- 4/15/24 - Form 6-K
- 4/1/24 - Form 6-K
- 3/28/24 - Form 6-K/A
- ITUB's page on the SEC website