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Dec. 2, 2019, 7:56 a.m. EST

Brazilian financial services platform XP to offer 72.5 million shares in IPO, priced at $22 to $25 each

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By Ciara Linnane

XP

Brazilian financial services platform XP Inc. /zigman2/quotes/215406167/composite XP +4.82% set terms for its planned initial public offering on Monday, saying it plans to offer 72.5 million shares priced at $22 to $25 each. The company has applied to list on Nasdaq under the ticker symbol "XP." It is offering 42.5 million class A shares, while selling shareholders will offer the remaining 30 million. The company is planning a dual class structure, under which its existing shareholders will own class B shares that will carry 10 voting rights per share. Nine banks are underwriting the deal led by Goldman Sachs. Proceeds will be used for working capital, to invest in marketing, for new hires, for new products, to fund potential acquisitions and for general corporate purposes.

/zigman2/quotes/215406167/composite
US : U.S.: Nasdaq
$ 40.66
+1.87 +4.82%
Volume: 2.06M
Jan. 21, 2020 3:21p
P/E Ratio
106.83
Dividend Yield
N/A
Market Cap
$21.40 billion
Rev. per Employee
N/A
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