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Dec. 10, 2019, 8:06 p.m. EST

Brazilian financial-services company XP rakes in nearly $2 billion in IPO

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By Jeremy C. Owens


XP Inc. /zigman2/quotes/215406167/composite XP +0.72% , a provider of brokerage, investment-advisory and asset-management services in Brazil, priced its initial public offering higher than it projected Tuesday evening to pull in almost $2 billion. XP announced that it will sell about 72.5 million shares for $27 apiece, for a total take of $1.98 billion and an initial valuation of $13.75 billion. XP had targeted an IPO price of $22 to $25 a share, according to a filing with the Securities and Exchange Commission . The company is selling about 42.6 million shares, while shareholders are putting up nearly 30 million. Underwriting banks - which includes XP itself - have access to an additional 10.9 million shares from selling shareholders, which could drive the totals higher. XP shares are now expected to begin trading Wednesday morning on the Nasdaq Global Select Market under the ticker symbol XP.

US : U.S.: Nasdaq
$ 41.69
+0.30 +0.72%
Volume: 583,339
Sept. 30, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$23.36 billion
Rev. per Employee

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