logo
Plus   Neg
Share
Email

Brazil's XP Prices IPO At $27/shr, Above Proposed Range

XP Inc., a provider of brokerage, investment-advisory and asset-management services in Brazil, said that it has priced its initial public offering of 72.51 million of its Class A common shares at a price of $27.00 per share.

According to recent regulatory filings, the company and selling stockholders planned to offer 72.51 million shares in the range of US$22.00 and US$25.00 per share.

XP Inc said it is issuing and selling 42.55 million Class A common shares and certain selling shareholders are selling 29.96 million Class A common shares. The shares are expected to begin trading on the Nasdaq Global Select Market on December 11, 2019, under the symbol "XP" and the offering is expected to close on December 13, 2019.

In connection with the offering, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 10.88 million Class A common shares at the initial public offering price less the underwriting discount.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon.com, Inc. can be held liable for damages caused by defective goods sold on its Marketplace including third parties, according to a ruling by a California appeals court. The California Fourth District Court of Appeals was pronouncing the ruling in a case where a defective replacement laptop battery caught fire and inflicted a woman with third-degree burns. Facebook has launched "Voting Information Center" on Facebook and Instagram platforms, with a view to boosting the number of Americans vote in the upcoming U.S. presidential election in November. The social media giant's latest initiative is expected to help 4 million voters register this year, and help them navigate a 'confusing election process'. Epic Games Inc., the developer of popular game Fortnite, has filed lawsuits against both Apple Inc. and Google after they removed the game from their app stores. The development reflects disputes related to app store fee the tech giants take from each purchase. Epic Games, which has been against the 30 percent revenue cut the two tech giants take from paid apps, added a direct payment option.
Follow RTT