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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.

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