Business

Brazil's Banco Inter raises BRL 5.5 billion in stock offering

The follow-on has StoneCo as anchor investor, with a commitment to subscribe for common shares and/or units corresponding to an equity stake of up to 4.99% of Inter's total capital stock

João Vitor Menin, CEO at Banco Inter 06/11/2019. Photo: REUTERS/Nacho Doce
Ler em português
  • The price per unit was set at BRL 57.84 and the price per share was set at BRL 19.28;
  • Inter’s new capital stock will be BRL 8.797 billion.

Brazil’s neobank Inter announced late Thursday that 143,017,604 common shares and 142,252,104 preferred shares were allocated, including the shares underlying the units, in a primary offering with restricted efforts, totaling BRL 5.5 billion.

After the offering, with Bradesco BBI, BTG Pactual, Bank of America, Itaú BBA, JPMorgan, and UBS BB as underwriters, Inter’s new capital stock will be BRL 8.797 billion, divided into 1,293,373,691 ON shares and 1,285,229,952 PN shares.

READ ALSO: After partnering with Brazil’s Inter, NY-based Atom Finance secures a $28 million Series B round led by SoftBank

The price per unit was set at BRL 57.84 and the price per share was set at BRL 19.28.

The follow-on has StoneCo as anchor investor, with a commitment to subscribe for common shares and/or units corresponding to an equity stake of up to 4.99% of Inter’s total capital stock, limited to an investment amount of BRL 2.5 billion.

(Translated by LABS)

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