Sabesp Jumps as Sao Paulo Seeks Bidders for Privatization [BNN Bloomberg (Canada)]
XP Inc. - Class A (XP)
Company Research
Source: BNN Bloomberg
Latin America's largest water utility rose as much as 3.7% on Thursday, the biggest intraday gain in almost a month, before pairing gains. The unusual follow-on model has pleased investors, who think it might boost the company's value. The deal will be split in two stages — first, the company will select two strategic investors, based on who offers the highest price. Those investors will then anchor a follow-on to the broader market, in which two separate books will be built and compete to garner the most bids. The pricing for that stage will follow the one initially offered by the strategic holder, and whoever pulls the largest volume will be chosen as the winner and gets to hold 15% of shares in the company. The model “increases the likelihood of attracting a strategic investor,” Itau BBA analysts led by Marcelo Sa said in a report. “We believe this would be crucial in accelerating necessary changes to enhance the company's efficiency.” The novel model for the sale, outline
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- XP Inc. Files Its Annual Report on Form 20-F for the Fiscal Year Ended December 31, 2023 [Yahoo! Finance]Yahoo! Finance
- XP Appoints Victor Mansur as Chief Financial Officer Effective August 1, 2024 [Yahoo! Finance]Yahoo! Finance
- XP Announces Corporate Governance Changes to Support its Next Chapter of Growth [Yahoo! Finance]Yahoo! Finance
- XP Appoints Victor Mansur as Chief Financial Officer Effective August 1, 2024Business Wire
- XP Inc. Files Its Annual Report on Form 20-F for the Fiscal Year Ended December 31, 2023Business Wire
XP
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- 2/27/24 - Beat
XP
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- 4/26/24 - Form 20-F
- 4/26/24 - Form 6-K
- 4/26/24 - Form 6-K
- XP's page on the SEC website