Business

Banco Inter: corporate reorganization to list on Nasdaq and a new deal with StoneCo

Inter has announced that it intends to list its shares on the U.S. stock exchange and that it got a new deal with StoneCo to create an ecosystem that connects buyers to sellers

Inter Brazil
Photo: Inter/Courtesy
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  • Banco Inter announced that intends to migrate its shareholding base to Inter Platform, whose shares it intends to list on Nasdaq;
  • The Brazilian digital bank also announced a new deal with the card processor StoneCo;
  • Business opportunities between both companies include connecting Stone customers to Inter Shop, digitizing the payment experience between Inter customers and Stone retailers.

Banco Inter reported that it is studying a corporate reorganization to migrate its shareholding base to Inter Platform, whose shares it intends to list on Nasdaq, backed by BDRs listed on B3, the Brazilian stock exchange.

According to a statement to the Securities and Exchange Commission (CVM, in the acronym in Portuguese), Inter Platform would be a company incorporated under the laws of the Cayman jurisdiction to be registered with the Securities and Exchange Commission (SEC, the body that regulates the capital market in the United States).

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New agreement with StoneCo

Inter also announced an agreement with the Brazilian StoneCo, whereby the card processing company committed to subscribe for common shares and/or units corresponding to up to 4.99% of the digital bank’s share capital, with an investment limited to BRL 2,5 billion.

According to Inter’s statement, the acquisition of the shares will take place within the scope of the public offering of Inter shares, in the fixed amount of BRL 19.28 per common and preferred share and BRL 57,84 per unit.

READ ALSO: Inter’s COO: “We are navigating the best of both worlds, the intersection between fintech and bank”

“Inter and Stone will do their best to initiate a discussion in order to explore business opportunities that can leverage the strength of both companies to create an ecosystem that connects buyers to sellers, who will benefit from the best financial products and a great deal of sales channel,” said Inter in the statement.

Business opportunities include connecting Stone customers to Inter Shop, digitizing the payment experience between Inter customers and Stone retailers, exploring cross-selling and leveraging the strength of Inter’s funding in Stone’s working capital offerings.

Translated by LABS.

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