Brazil’s booming credit markets fan hopes of ‘revolution’
This weekend a group of executives from XP Investimentos, a Brazilian financial services firm, will fly to New York to oversee the company’s initial public offering on the Nasdaq stock exchange, due to be priced on Tuesday.
They hope to raise $1.7bn in a sale that would value XP, which was founded 18 years ago by a newly unemployed 24-year-old, at about $14bn.
By Jonathan Wheatley, Bryan Harris and Andres Schipani via Financial Times