Brazil XP’s Valued at $14.9 Billion as IPO Tops Target Range
XP Inc., Brazil’s largest brokerage by equity-trading volume, raised $1.96 billion in its U.S. initial public offering, pricing its shares above the marketed range.
The company and its existing shareholders sold 72.5 million shares Tuesday for $27 each after offering them for $22 to $25, according to a statement. That gives XP a market value of about $14.9 billion based on the outstanding shares listed in its filings with U.S. Securities and Exchange Commission.
By Cristiane Lucchesi , Vinicius Andrade , Felipe Marques, and Crystal Tse via Bloomberg