Banco Santander: successful IPO of a Brazilian subsidiary
Madrid (aktiencheck.de Financial) – Banco Santander SA (ES0113900J37 ISIN / WKN 858872) has an IPO of its Brazilian subsidiary successfully completed and will show in this context a multi-billion dollar positive one.
As noted in a press release issued on Tuesday evening, a total of 600 million shares of Banco Santander (Madrid: BSCH.MC – News) (Brazil) SA sold at a price of 23.5 Brazilian Real (BRL).
Were Converted DISPLAY , yielding approximately 5.5 billion euros. Previously they had sighted an offer price between 22 to 25 BRL per share for the IPO, the Brazilian subsidiary. The issue proceeds would be used partly to strengthen its market position in Brazil.
In the course of the IPO, Banco Santander will chalk up a positive one of 1.43 billion euros. This will improve the core capital ratio of European banking company by 0.6 percentage points, it was said.
The shares of Banco Santander currently losing on its home market is currently 1.03 per cent to 11.05 euros.